Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells 4,318 Shares of Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 4,318 shares of Clene stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $6.12, for a total value of $26,426.16. Following the completion of the sale, the insider directly owned 358,411 shares in the company, valued at approximately $2,193,475.32. The trade was a 1.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Tuesday, April 21st, Chidozie Ugwumba sold 61,345 shares of Clene stock. The shares were sold at an average price of $6.14, for a total value of $376,658.30.
• On Friday, April 17th, Chidozie Ugwumba sold 25,040 shares of Clene stock. The shares were sold at an average price of $6.43, for a total transaction of $161,007.20.
• On Thursday, April 16th, Chidozie Ugwumba sold 7,748 shares of Clene stock. The stock was sold at an average price of $6.40, for a total transaction of $49,587.20.
• On Wednesday, April 15th, Chidozie Ugwumba sold 6,374 shares of Clene stock. The shares were sold at an average price of $6.48, for a total transaction of $41,303.52.
• On Thursday, April 2nd, Chidozie Ugwumba sold 24,925 shares of Clene stock. The shares were sold at an average price of $4.81, for a total transaction of $119,889.25.
• On Wednesday, April 1st, Chidozie Ugwumba sold 4,278 shares of Clene stock. The stock was sold at an average price of $4.97, for a total transaction of $21,261.66.
• On Tuesday, February 3rd, Chidozie Ugwumba sold 5,559 shares of Clene stock. The stock was 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 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 value 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 value of $66,026.88.

Clene Stock Performance

NASDAQ CLNN traded up $0.25 on Wednesday, hitting $6.57. 80,503 shares of the stock were exchanged, compared to its average volume of 91,483. The stock has a fifty day moving average price of $5.44 and a two-hundred day moving average price of $6.62. The firm has a market capitalization of $77.39 million, a P/E ratio of -2.53 and a beta of 0.62. Clene Inc. has a 52-week low of $2.28 and a 52-week high of $13.50.

Clene (NASDAQ:CLNN) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.14). The company had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.03 million. Sell-side analysts expect that Clene Inc. will post -1.99 earnings per share for the current fiscal year.

Institutional Trading of Clene

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lunt Capital Management Inc. lifted its holdings in shares of 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 purchasing an additional 1,250 shares during the period. Jones Financial Companies Lllp purchased a new stake in Clene during the third quarter worth $29,000. Geode Capital Management LLC boosted its stake in shares of Clene by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock worth $482,000 after acquiring an additional 6,090 shares in the last quarter. Jane Street Group LLC acquired a new stake in Clene in the second quarter valued at approximately $47,000. Finally, State Street Corp grew its stake in Clene by 138.4% in the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock valued at $175,000 after acquiring an additional 17,300 shares during the period. Institutional investors and hedge funds own 23.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clene in a research report on Friday, January 9th. D. Boral Capital reiterated a “buy” rating and issued a $23.00 target price on shares of Clene in a report on Thursday, March 12th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $48.00 target price on shares of Clene in a research report on Friday, March 13th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $33.00.

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).