Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells 12,170 Shares of Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 12,170 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $5.63, for a total value of $68,517.10. Following the completion of the transaction, the insider owned 283,305 shares of the company’s stock, valued at $1,595,007.15. The trade was a 4.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 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 Thursday, April 30th, Chidozie Ugwumba sold 5,736 shares of Clene stock. The shares were sold at an average price of $6.08, for a total value of $34,874.88.
• On Tuesday, April 28th, Chidozie Ugwumba sold 1,591 shares of Clene stock. The shares were sold at an average price of $5.90, for a total value of $9,386.90.
• On Tuesday, April 21st, Chidozie Ugwumba sold 61,345 shares of Clene stock. The shares were sold at an average price of $6.14, for a total value of $376,658.30.
• On Monday, April 20th, Chidozie Ugwumba sold 4,318 shares of Clene stock. The shares were sold at an average price of $6.12, for a total value of $26,426.16.
• On Friday, April 17th, Chidozie Ugwumba sold 25,040 shares of Clene stock. The shares were sold at an average price of $6.43, for a total value of $161,007.20.
• On Thursday, April 16th, Chidozie Ugwumba sold 7,748 shares of Clene stock. The shares were sold at an average price of $6.40, for a total value of $49,587.20.
• On Wednesday, April 15th, Chidozie Ugwumba sold 6,374 shares of Clene stock. The shares were sold at an average price of $6.48, for a total value of $41,303.52.
• On Thursday, April 2nd, Chidozie Ugwumba sold 24,925 shares of Clene stock. The shares were 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.

Clene Stock Performance

NASDAQ:CLNN traded up $0.36 during mid-day trading on Thursday, hitting $6.16. The stock had a trading volume of 58,233 shares, compared to its average volume of 89,880. Clene Inc. has a twelve month low of $2.28 and a twelve month high of $13.50. The stock has a market cap of $72.55 million, a price-to-earnings ratio of -2.37 and a beta of 0.62. The company’s 50 day simple moving average is $5.65 and its 200 day simple moving average is $6.50.

Clene (NASDAQ:CLNN) last issued its earnings results on Thursday, March 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.14). The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.03 million. As a group, equities analysts forecast that Clene Inc. will post -1.99 earnings per share for the current year.

Institutional Investors Weigh In On Clene

Hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp acquired a new stake in Clene during the third quarter worth approximately $29,000. Jane Street Group LLC acquired a new stake in Clene during the second quarter worth approximately $47,000. State Street Corp raised its position in shares of Clene by 138.4% in the fourth quarter. State Street Corp now owns 29,801 shares of the company’s stock valued at $175,000 after buying an additional 17,300 shares in the last quarter. PEAK6 LLC acquired a new stake in shares of Clene in the fourth quarter valued at approximately $294,000. Finally, Lunt Capital Management Inc. raised its position in shares of Clene by 2.5% in the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock valued at $315,000 after buying an additional 1,250 shares in the last quarter. 23.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CLNN has been the subject of several research reports. Weiss Ratings downgraded shares of Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 22nd. D. Boral Capital restated a “buy” rating and set a $23.00 price objective on shares of Clene in a research report on Thursday, March 12th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $48.00 price objective on shares of Clene in a research report on Friday, March 13th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.00.

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).