Clene (NASDAQ:CLNN) Major Shareholder Sells $21,261.66 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 4,278 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $4.97, for a total value of $21,261.66. Following the completion of the sale, the insider directly owned 426,816 shares of the company’s stock, valued at $2,121,275.52. The trade was a 0.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Tuesday, February 3rd, Chidozie Ugwumba sold 5,559 shares of Clene stock. The shares were sold at an average price of $4.10, for a total transaction of $22,791.90.
• 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 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 transaction 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 transaction of $32,218.36.
• 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 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.

Clene Stock Performance

Shares of CLNN traded down $0.03 on Thursday, reaching $4.86. The stock had a trading volume of 59,795 shares, compared to its average volume of 92,174. Clene Inc. has a 12-month low of $2.28 and a 12-month high of $13.50. The firm has a market capitalization of $57.21 million, a price-to-earnings ratio of -1.87 and a beta of 0.62. The company has a 50-day simple moving average of $4.99 and a 200-day simple moving average of $6.67.

Clene (NASDAQ:CLNN) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.14). The company had revenue of $0.08 million during the quarter, compared to the consensus estimate of $0.03 million. On average, analysts expect that Clene Inc. will post -5.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CLNN has been the subject of several research reports. D. Boral Capital reiterated a “buy” rating and issued a $23.00 price target on shares of Clene in a research note on Thursday, March 12th. UBS Group reaffirmed a “buy” rating on shares of Clene in a research note on Wednesday, December 3rd. Canaccord Genuity Group reiterated a “buy” rating and set a $48.00 target price on shares of Clene in a report on Friday, March 13th. 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 research report on Thursday, December 4th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Clene has an average rating of “Moderate Buy” and a consensus target price of $32.60.

Institutional Trading of Clene

A number of institutional investors and hedge funds have recently modified their holdings of CLNN. Jones Financial Companies Lllp bought a new position in shares of Clene during the third quarter valued at $29,000. Jane Street Group LLC bought a new stake in Clene in the 2nd quarter worth about $47,000. State Street Corp raised its position in Clene by 138.4% in the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock worth $175,000 after buying an additional 17,300 shares during the last quarter. PEAK6 LLC bought a new position in Clene during the 4th quarter valued at about $294,000. Finally, Lunt Capital Management Inc. lifted its stake in Clene by 2.5% during the 3rd quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock valued at $315,000 after acquiring an additional 1,250 shares during the period. Institutional investors own 23.28% of the company’s stock.

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).