Chidozie Ugwumba Sells 3,111 Shares of Clene (NASDAQ:CLNN) Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 3,111 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $6.04, for a total transaction of $18,790.44. Following the completion of the sale, the insider owned 757,500 shares in the company, valued at $4,575,300. The trade was a 0.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Chidozie Ugwumba also recently made the following trade(s):

• On Wednesday, January 7th, Chidozie Ugwumba sold 3,938 shares of Clene stock. The shares were sold at an average price of $6.29, for a total value of $24,770.02.
• On Monday, January 5th, Chidozie Ugwumba sold 5,869 shares of Clene stock. The shares were 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 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 shares were 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 stock was sold at an average price of $5.95, for a total value 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 value 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 Price Performance

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

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CLNN shares. D. Boral Capital restated a “buy” rating and set a $23.00 price target on shares of Clene in a research note on Wednesday, December 10th. Benchmark reissued a “buy” rating on shares of Clene in a report on Thursday, December 4th. UBS Group restated a “buy” rating on shares of Clene in a research report on Wednesday, December 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clene in a report on Tuesday, October 14th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Clene has an average rating of “Moderate Buy” and a consensus target price of $32.60.

Hedge Funds Weigh In On Clene

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new position in Clene during the 3rd quarter worth $29,000. Jane Street Group LLC acquired a new stake in shares of Clene in the 2nd quarter worth $47,000. Lunt Capital Management Inc. boosted its holdings in shares of Clene by 71.2% in the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock valued at $199,000 after acquiring an additional 21,217 shares in the last quarter. Finally, Scoggin Management LP increased its stake in shares of Clene by 42.8% during the second 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. 23.28% of the stock is currently owned by hedge funds and other institutional investors.

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).