Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells $66,026.88 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 15,284 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $4.32, for a total transaction of $66,026.88. Following the completion of the sale, the insider directly owned 565,045 shares in the company, valued at approximately $2,440,994.40. This represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, February 2nd, Chidozie Ugwumba sold 3,800 shares of Clene stock. The stock was sold at an average price of $4.04, for a total transaction of $15,352.00.
• On Friday, January 30th, Chidozie Ugwumba sold 5,686 shares of Clene stock. The stock was sold at an average price of $4.13, for a total transaction of $23,483.18.
• 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 value of $42,800.47.
• On Tuesday, January 27th, Chidozie Ugwumba sold 4,139 shares of Clene stock. The shares were sold at an average price of $5.08, for a total value of $21,026.12.
• On Monday, January 26th, Chidozie Ugwumba sold 6,418 shares of Clene stock. The stock was sold at an average price of $5.02, for a total value of $32,218.36.
• On Friday, January 23rd, Chidozie Ugwumba sold 5,556 shares of Clene stock. The shares were sold at an average price of $5.27, for a total value 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 value of $67,377.80.
• On Wednesday, January 21st, Chidozie Ugwumba sold 12,119 shares of Clene stock. The stock was sold at an average price of $5.05, for a total value of $61,200.95.
• On Tuesday, January 20th, Chidozie Ugwumba sold 12,432 shares of Clene stock. The shares were 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 transaction of $40,644.99.

Clene Trading Down 6.6%

CLNN stock opened at $3.99 on Thursday. The stock has a market cap of $43.29 million, a P/E ratio of -1.18 and a beta of 0.81. Clene Inc. has a twelve month low of $2.28 and a twelve month high of $13.50. The company’s 50 day moving average is $6.02 and its two-hundred day moving average is $6.55.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. UBS Group reissued 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 research report on Friday, January 9th. Benchmark reissued a “buy” rating on shares of Clene in a report on Thursday, December 4th. Finally, 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. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new stake in shares of Clene during the third quarter worth approximately $29,000. Jane Street Group LLC acquired a new position in Clene in the 2nd quarter valued at $47,000. Lunt Capital Management Inc. raised its position in Clene by 71.2% during the 2nd quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock worth $199,000 after buying an additional 21,217 shares during the last quarter. Finally, Scoggin Management LP lifted its stake in shares of Clene by 42.8% in the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after acquiring an additional 42,750 shares during the period. 23.28% of the stock is currently owned by hedge funds and other institutional investors.

About Clene

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).