Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells $22,791.90 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 5,559 shares of Clene stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $4.10, for a total transaction of $22,791.90. Following the completion of the sale, the insider owned 550,000 shares of the company’s stock, valued at $2,255,000. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock 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 shares were 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 Thursday, January 29th, Chidozie Ugwumba sold 15,284 shares of Clene stock. The shares were sold at an average price of $4.32, for a total transaction of $66,026.88.
• 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 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 shares were 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 transaction of $59,673.60.

Clene Stock Up 9.4%

Shares of NASDAQ:CLNN opened at $4.29 on Friday. The stock has a market capitalization of $46.55 million, a PE ratio of -1.27 and a beta of 0.81. The firm’s 50 day moving average price is $5.78 and its 200-day moving average price is $6.55. Clene Inc. has a twelve month low of $2.28 and a twelve month high of $13.50.

Clene (NASDAQ:CLNN) last announced 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 for the quarter, compared to the consensus estimate of $0.06 million. Analysts expect that Clene Inc. will post -5.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CLNN has been the subject of several recent research reports. D. Boral Capital reissued a “buy” rating and set a $23.00 price target on shares of Clene in a report on Friday, January 9th. UBS Group reiterated a “buy” rating on shares of Clene in a research note on Wednesday, December 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Clene in a research note on Friday, January 9th. Finally, Benchmark reaffirmed a “buy” rating on shares of Clene in a report on Thursday, December 4th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Clene has a consensus rating of “Moderate Buy” and an average price target of $32.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLNN. Lunt Capital Management Inc. raised its position in shares of Clene by 71.2% during the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock valued at $199,000 after buying an additional 21,217 shares during the last quarter. Scoggin Management LP grew its stake in Clene by 75.1% during the third quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock valued at $1,506,000 after acquiring an additional 107,250 shares in the last quarter. Jane Street Group LLC purchased a new position in Clene during the second quarter valued at $47,000. Finally, Jones Financial Companies Lllp bought a new stake in Clene in the 3rd quarter valued at $29,000. 23.28% of the stock is currently owned by 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).