Clene (NASDAQ:CLNN) Major Shareholder Sells $48,171.20 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 8,096 shares of the company’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $5.95, for a total value of $48,171.20. Following the completion of the transaction, the insider directly owned 787,728 shares of the company’s stock, valued at approximately $4,686,981.60. The trade was a 1.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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, 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 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 value of $42,830.37.
• On Friday, December 26th, Chidozie Ugwumba sold 3,350 shares of Clene stock. The stock was sold at an average price of $6.32, for a total value of $21,172.00.
• On Wednesday, December 24th, Chidozie Ugwumba sold 1,490 shares of Clene stock. The shares were sold at an average price of $6.27, for a total value of $9,342.30.
• On Monday, December 22nd, Chidozie Ugwumba sold 4,367 shares of Clene stock. The shares were sold at an average price of $6.54, for a total value of $28,560.18.
• On Friday, December 19th, Chidozie Ugwumba sold 5,582 shares of Clene stock. The stock was sold at an average price of $6.45, for a total value of $36,003.90.
• On Wednesday, December 3rd, Chidozie Ugwumba sold 56,577 shares of Clene stock. The stock was sold at an average price of $7.86, for a total value of $444,695.22.
• On Thursday, December 18th, Chidozie Ugwumba sold 5,816 shares of Clene stock. The stock was sold at an average price of $6.33, for a total value of $36,815.28.
• On Wednesday, December 17th, Chidozie Ugwumba sold 2,884 shares of Clene stock. The shares were sold at an average price of $6.61, for a total transaction of $19,063.24.
• On Tuesday, December 16th, Chidozie Ugwumba sold 7,030 shares of Clene stock. The stock was sold at an average price of $6.31, for a total transaction of $44,359.30.

Clene Stock Performance

Shares of NASDAQ:CLNN traded down $0.03 during trading on Wednesday, reaching $5.94. 44,239 shares of the stock traded hands, compared to its average volume of 106,335. Clene Inc. has a 52-week low of $2.28 and a 52-week high of $13.50. The stock has a market cap of $61.33 million, a P/E ratio of -1.75 and a beta of 0.79. The stock has a 50-day moving average of $8.20 and a two-hundred day moving average of $6.34.

Clene (NASDAQ:CLNN) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.25). The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.06 million. Sell-side analysts expect that Clene Inc. will post -5.19 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. UBS Group reiterated a “buy” rating on shares of Clene in a research report on Wednesday, December 3rd. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 target price on shares of Clene in a research note on Wednesday, December 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Clene in a report on Tuesday, October 14th. Finally, Benchmark reiterated 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Clene currently has an average rating of “Moderate Buy” and a consensus price target of $32.60.

Institutional Trading of Clene

Several hedge funds have recently added to or reduced their stakes in CLNN. Jones Financial Companies Lllp acquired a new position in shares of Clene during the third quarter worth approximately $29,000. Jane Street Group LLC acquired a new position in Clene in the 2nd quarter valued at about $47,000. Lunt Capital Management Inc. grew its position in shares of Clene by 71.2% during the 2nd quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock worth $199,000 after purchasing an additional 21,217 shares in the last quarter. Finally, Scoggin Management LP lifted its holdings in shares of Clene by 42.8% during the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after acquiring an additional 42,750 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).