Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells 6,418 Shares of Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 6,418 shares of Clene stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $5.02, for a total transaction of $32,218.36. Following the completion of the sale, the insider directly owned 593,185 shares in the company, valued at $2,977,788.70. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Chidozie Ugwumba also recently made the following trade(s):

• On Wednesday, January 28th, Chidozie Ugwumba sold 8,717 shares of Clene stock. The shares were sold at an average price of $4.91, for a total transaction of $42,800.47.
• On Tuesday, January 27th, Chidozie Ugwumba sold 4,139 shares of Clene stock. The stock was sold at an average price of $5.08, for a total value of $21,026.12.
• On Friday, January 23rd, Chidozie Ugwumba sold 5,556 shares of Clene stock. The stock was sold at an average price of $5.27, for a total transaction of $29,280.12.
• On Thursday, January 22nd, Chidozie Ugwumba sold 12,665 shares of Clene stock. The stock was sold at an average price of $5.32, for a total transaction of $67,377.80.
• On Wednesday, January 21st, Chidozie Ugwumba sold 12,119 shares of Clene stock. The shares were sold at an average price of $5.05, for a total transaction of $61,200.95.
• On Tuesday, January 20th, Chidozie Ugwumba sold 12,432 shares of Clene stock. The stock was sold at an average price of $4.80, for a total value of $59,673.60.
• On Friday, January 16th, Chidozie Ugwumba sold 7,923 shares of Clene stock. The shares were sold at an average price of $5.13, for a total value of $40,644.99.
• On Thursday, January 15th, Chidozie Ugwumba sold 12,563 shares of Clene stock. The shares were sold at an average price of $5.10, for a total transaction of $64,071.30.
• On Wednesday, January 14th, Chidozie Ugwumba sold 19,621 shares of Clene stock. The stock was sold at an average price of $5.12, for a total value of $100,459.52.
• On Tuesday, January 13th, Chidozie Ugwumba sold 26,105 shares of Clene stock. The stock was sold at an average price of $4.89, for a total value of $127,653.45.

Clene Price Performance

Shares of NASDAQ:CLNN traded down $0.28 during midday trading on Wednesday, hitting $4.91. The company had a trading volume of 92,400 shares, compared to its average volume of 124,439. The company has a fifty day moving average of $6.61 and a two-hundred day moving average of $6.55. Clene Inc. has a 12-month low of $2.28 and a 12-month high of $13.50. The company has a market cap of $53.27 million, a price-to-earnings ratio of -1.45 and a beta of 0.87.

Clene (NASDAQ:CLNN) last released its earnings results on Thursday, November 13th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.25). The company had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.06 million. Research analysts expect that Clene Inc. will post -5.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clene

A number of institutional investors have recently modified their holdings of the business. Scoggin Management LP increased its holdings in shares of Clene by 75.1% in the third quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock valued at $1,506,000 after purchasing an additional 107,250 shares during the period. Lunt Capital Management Inc. grew its position in Clene by 2.5% during the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock worth $315,000 after buying an additional 1,250 shares during the period. Jane Street Group LLC acquired a new position in Clene during the second quarter worth $47,000. Finally, Jones Financial Companies Lllp acquired a new stake in Clene in the 3rd quarter valued at about $29,000. 23.28% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on CLNN. UBS Group reaffirmed a “buy” rating on shares of Clene in a report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clene in a report on Friday, January 9th. D. Boral Capital restated a “buy” rating and set a $23.00 target price on shares of Clene in a research report on Friday, January 9th. Finally, Benchmark restated a “buy” rating on shares of Clene in a research report on Thursday, December 4th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

Clene Company Profile

Clene (NASDAQ: CLNN), also known as Clene Nanomedicine, is a clinical-stage biopharmaceutical company developing proprietary nanoparticle therapies aimed at treating neurodegenerative and demyelinating disorders. The company’s flagship product, CNM-Au8, is a suspension of catalytic gold nanocrystals designed to enhance cellular energy metabolism, promote remyelination, and reduce oxidative stress. Clene’s platform leverages the unique physicochemical properties of its nanoparticles to support neuronal health, with a focus on diseases that currently lack effective disease-modifying treatments.

Clene’s lead candidate, CNM-Au8, is undergoing multiple clinical trials targeting conditions such as amyotrophic lateral sclerosis (ALS), Parkinson’s disease, and multiple sclerosis (MS).