Clene (NASDAQ:CLNN) Major Shareholder Sells $24,770.02 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 3,938 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $6.29, for a total transaction of $24,770.02. Following the sale, the insider directly owned 753,562 shares of the company’s stock, valued at approximately $4,739,904.98. This trade represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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, January 6th, Chidozie Ugwumba sold 3,111 shares of Clene stock. The stock was sold at an average price of $6.04, for a total value of $18,790.44.
• On Monday, January 5th, Chidozie Ugwumba sold 5,869 shares of Clene stock. The stock was sold at an average price of $5.87, for a total value of $34,451.03.
• On Friday, January 2nd, Chidozie Ugwumba sold 4,015 shares of Clene stock. The shares were sold at an average price of $5.73, for a total value of $23,005.95.
• On Wednesday, December 31st, Chidozie Ugwumba sold 13,095 shares of Clene stock. The stock was sold at an average price of $5.81, for a total value of $76,081.95.
• On Tuesday, December 30th, Chidozie Ugwumba sold 4,138 shares of Clene stock. The stock was sold at an average price of $6.03, for a total value of $24,952.14.
• On Monday, December 29th, Chidozie Ugwumba sold 8,096 shares of Clene stock. The shares were sold at an average price of $5.95, for a total transaction of $48,171.20.
• On Tuesday, December 23rd, Chidozie Ugwumba sold 6,831 shares of Clene stock. The stock was sold at an average price of $6.27, for a total transaction of $42,830.37.
• On Friday, December 26th, Chidozie Ugwumba sold 3,350 shares of Clene stock. The shares were sold at an average price of $6.32, for a total transaction of $21,172.00.
• On Wednesday, December 24th, Chidozie Ugwumba sold 1,490 shares of Clene stock. The stock was sold at an average price of $6.27, for a total transaction of $9,342.30.
• On Monday, December 22nd, Chidozie Ugwumba sold 4,367 shares of Clene stock. The stock was sold at an average price of $6.54, for a total transaction of $28,560.18.

Clene Stock Up 2.3%

Shares of Clene stock traded up $0.14 during trading hours on Wednesday, hitting $6.28. 52,173 shares of the company’s stock traded hands, compared to its average volume of 59,068. Clene Inc. has a twelve month low of $2.28 and a twelve month high of $13.50. The company has a market cap of $64.87 million, a PE ratio of -1.85 and a beta of 0.87. The stock has a 50 day simple moving average of $7.94 and a 200-day simple moving average of $6.40.

Clene (NASDAQ:CLNN) last issued its quarterly 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 during the quarter, compared to analysts’ expectations of $0.06 million. As a group, equities research analysts predict that Clene Inc. will post -5.19 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on CLNN shares. D. Boral Capital reiterated a “buy” rating and set a $23.00 price objective on shares of Clene in a research note on Wednesday, December 10th. Benchmark reaffirmed a “buy” rating on shares of Clene in a research report on Thursday, December 4th. UBS Group reissued a “buy” rating on shares of Clene in a report on Wednesday, December 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clene in a research note on Tuesday, October 14th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Clene currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Institutional Investors Weigh In On Clene

Several institutional investors and hedge funds have recently bought and sold shares of the business. Lunt Capital Management Inc. lifted its holdings in Clene by 71.2% in the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock worth $199,000 after acquiring an additional 21,217 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Clene during the 2nd quarter worth approximately $47,000. Scoggin Management LP lifted its holdings 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 purchasing an additional 42,750 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in Clene during the 3rd quarter valued at approximately $29,000. Institutional investors and hedge funds 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).