Chidozie Ugwumba Sells 7,748 Shares of Clene (NASDAQ:CLNN) Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 7,748 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $6.40, for a total value of $49,587.20. Following the transaction, the insider directly owned 387,769 shares in the company, valued at $2,481,721.60. This trade represents a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 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 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 value of $161,007.20.
• On Wednesday, April 15th, Chidozie Ugwumba sold 6,374 shares of Clene stock. The stock was 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 stock was 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 shares were 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 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 stock was 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 value 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 value of $21,026.12.

Clene Stock Down 0.6%

Shares of NASDAQ:CLNN traded down $0.04 during trading on Friday, hitting $6.31. The stock had a trading volume of 68,601 shares, compared to its average volume of 87,043. Clene Inc. has a 12 month low of $2.28 and a 12 month high of $13.50. The company has a market capitalization of $74.33 million, a PE ratio of -2.43 and a beta of 0.62. The firm’s fifty day moving average is $5.36 and its 200 day moving average is $6.66.

Clene (NASDAQ:CLNN) last released 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. Equities research analysts expect that Clene Inc. will post -5.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Clene

Several large investors have recently modified their holdings of the stock. Lunt Capital Management Inc. boosted its stake in Clene by 2.5% in the 3rd 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 in the last quarter. Jones Financial Companies Lllp bought a new stake in Clene during the 3rd quarter valued at about $29,000. Geode Capital Management LLC raised 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 worth $482,000 after buying an additional 6,090 shares during the last quarter. Jane Street Group LLC purchased a new position in Clene in the second quarter worth about $47,000. Finally, State Street Corp lifted its stake in shares of Clene by 138.4% in the fourth quarter. State Street Corp now owns 29,801 shares of the company’s stock worth $175,000 after buying an additional 17,300 shares in the last quarter. Hedge funds and other institutional investors own 23.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. D. Boral Capital reaffirmed a “buy” rating and issued a $23.00 target price on shares of Clene in a research report on Thursday, March 12th. Canaccord Genuity Group reissued a “buy” rating and set a $48.00 price objective on shares of Clene in a research note on Friday, March 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clene in a report on Friday, January 9th. Five 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 has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.

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).