Clene (NASDAQ:CLNN) Major Shareholder Sells $56,900.25 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 9,075 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $6.27, for a total transaction of $56,900.25. Following the transaction, the insider owned 741,292 shares in the company, valued at $4,647,900.84. This represents a 1.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major 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 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 Thursday, January 8th, Chidozie Ugwumba sold 3,195 shares of Clene stock. The shares were sold at an average price of $6.09, for a total value of $19,457.55.
• 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 transaction 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 shares were 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 Down 18.9%

CLNN stock traded down $1.21 on Monday, hitting $5.18. 359,860 shares of the company’s stock traded hands, compared to its average volume of 108,848. The stock has a market cap of $53.53 million, a price-to-earnings ratio of -1.53 and a beta of 0.87. Clene Inc. has a 1-year low of $2.28 and a 1-year high of $13.50. The stock has a fifty day moving average of $7.68 and a 200-day moving average of $6.44.

Clene (NASDAQ:CLNN) last posted its quarterly 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 business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.06 million. On average, equities research analysts anticipate that Clene Inc. will post -5.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group reaffirmed a “buy” rating on shares of Clene in a research note on Wednesday, December 3rd. D. Boral Capital restated a “buy” rating and issued a $23.00 price target on shares of Clene in a research report on Friday. Benchmark reiterated a “buy” rating on shares of Clene in a research report on Thursday, December 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a research note on Tuesday, October 14th. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Institutional Investors Weigh In On Clene

Institutional investors have recently modified their holdings of the stock. Lunt Capital Management Inc. increased its stake 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 worth $315,000 after acquiring an additional 1,250 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Clene in the third quarter valued at about $29,000. Jane Street Group LLC acquired a new position in Clene in the 2nd quarter worth about $47,000. Finally, Scoggin Management LP raised its stake 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 purchasing an additional 42,750 shares in the last quarter. Institutional investors and hedge funds 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).