Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells $19,457.55 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 3,195 shares of Clene stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $6.09, for a total transaction of $19,457.55. Following the completion of the transaction, the insider directly owned 750,367 shares in the company, valued at $4,569,735.03. This represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own more than 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 Monday, January 12th, Chidozie Ugwumba sold 32,705 shares of Clene stock. The shares were sold at an average price of $5.50, for a total value of $179,877.50.
• On Friday, January 9th, Chidozie Ugwumba sold 9,075 shares of Clene stock. The stock was sold at an average price of $6.27, for a total value of $56,900.25.
• On Wednesday, January 7th, Chidozie Ugwumba sold 3,938 shares of Clene stock. The stock was sold at an average price of $6.29, for a total value of $24,770.02.
• On Tuesday, January 6th, Chidozie Ugwumba sold 3,111 shares of Clene stock. The shares were 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 stock was 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 shares were sold at an average price of $5.81, for a total transaction 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 transaction of $24,952.14.
• On Monday, December 29th, Chidozie Ugwumba sold 8,096 shares of Clene stock. The stock was 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.

Clene Trading Up 0.4%

NASDAQ:CLNN opened at $5.12 on Thursday. The company has a market capitalization of $55.55 million, a P/E ratio of -1.51 and a beta of 0.87. Clene Inc. has a 12 month low of $2.28 and a 12 month high of $13.50. The firm has a fifty day simple moving average of $7.31 and a 200-day simple moving average of $6.45.

Clene (NASDAQ:CLNN) last released its earnings results on Thursday, November 13th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate 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. Equities analysts forecast that Clene Inc. will post -5.19 EPS for the current year.

Analyst Upgrades and Downgrades

CLNN has been the topic of a number of recent research reports. Benchmark reiterated a “buy” rating on shares of Clene in a research report on Thursday, December 4th. D. Boral Capital reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Clene in a report on Friday, January 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clene in a research note on Friday, January 9th. Finally, UBS Group restated a “buy” rating on shares of Clene in a research report on Wednesday, December 3rd. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Clene has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Institutional Trading of Clene

Hedge funds have recently added to or reduced their stakes in the company. Scoggin Management LP increased 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 in the last quarter. Lunt Capital Management Inc. grew its position in shares of Clene by 2.5% during the 3rd quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock valued at $315,000 after acquiring an additional 1,250 shares during the period. Jones Financial Companies Lllp acquired a new stake in shares of Clene during the 3rd quarter valued at about $29,000. Finally, Jane Street Group LLC purchased a new position in shares of Clene in the 2nd quarter valued at about $47,000. 23.28% of the stock is owned by hedge funds and other institutional investors.

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).