Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 22,177 Shares

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 22,177 shares of Clene stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $6.75, for a total transaction of $149,694.75. Following the completion of the sale, the insider owned 176,713 shares of the company’s stock, valued at approximately $1,192,812.75. The trade was a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major 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, May 12th, Chidozie Ugwumba sold 73,296 shares of Clene stock. The shares were sold at an average price of $6.20, for a total transaction of $454,435.20.
• On Monday, May 4th, Chidozie Ugwumba sold 72,884 shares of Clene stock. The shares were sold at an average price of $6.80, for a total transaction of $495,611.20.
• On Friday, May 1st, Chidozie Ugwumba sold 5,795 shares of Clene stock. The shares were sold at an average price of $6.01, for a total transaction of $34,827.95.
• On Thursday, April 30th, Chidozie Ugwumba sold 5,736 shares of Clene stock. The shares were sold at an average price of $6.08, for a total transaction of $34,874.88.
• On Wednesday, April 29th, Chidozie Ugwumba sold 12,170 shares of Clene stock. The shares were sold at an average price of $5.63, for a total transaction of $68,517.10.
• On Tuesday, April 28th, Chidozie Ugwumba sold 1,591 shares of Clene stock. The shares were sold at an average price of $5.90, for a total transaction of $9,386.90.
• 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 transaction of $376,658.30.
• On Monday, April 20th, Chidozie Ugwumba sold 4,318 shares of Clene stock. The shares were sold at an average price of $6.12, for a total transaction of $26,426.16.
• On Friday, April 17th, Chidozie Ugwumba sold 25,040 shares of Clene stock. The stock was 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.

Clene Stock Performance

NASDAQ CLNN opened at $6.50 on Thursday. The firm’s fifty day moving average price is $5.94 and its two-hundred day moving average price is $6.39. The stock has a market cap of $76.57 million, a PE ratio of -2.50 and a beta of 0.89. Clene Inc. has a fifty-two week low of $2.28 and a fifty-two week high of $13.50.

Clene (NASDAQ:CLNN) last posted its earnings results on Thursday, May 14th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.05). The business had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. As a group, sell-side analysts predict that Clene Inc. will post -1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Clene in a research note on Monday, May 4th. HC Wainwright reissued a “buy” rating and issued a $31.00 price objective on shares of Clene in a research note on Monday, May 4th. Weiss Ratings raised shares of Clene from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $48.00 price objective on shares of Clene in a research note on Friday, March 13th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.25.

Institutional Trading of Clene

Several institutional investors have recently modified their holdings of the business. Ensign Peak Advisors Inc lifted its holdings in Clene by 668.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company’s stock valued at $671,000 after buying an additional 99,481 shares during the period. SymBiosis Capital Partners LLC acquired a new position in Clene in the fourth quarter valued at $4,523,000. Geode Capital Management LLC lifted its holdings in Clene by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock valued at $482,000 after buying an additional 6,090 shares during the period. Scoggin Management LP lifted its holdings in 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 buying an additional 107,250 shares during the period. Finally, PEAK6 LLC acquired a new position in Clene in the fourth quarter valued at $294,000. Institutional investors own 23.28% of the company’s stock.

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).