Chidozie Ugwumba Sells 10,907 Shares of Clene (NASDAQ:CLNN) Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 10,907 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $6.81, for a total transaction of $74,276.67. Following the transaction, the insider owned 427,063 shares in the company, valued at $2,908,299.03. The trade was a 2.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more 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, December 18th, Chidozie Ugwumba sold 5,816 shares of Clene stock. The shares were sold at an average price of $6.33, for a total transaction of $36,815.28.
• On Wednesday, December 17th, Chidozie Ugwumba sold 2,884 shares of Clene stock. The shares were sold at an average price of $6.61, for a total transaction of $19,063.24.
• On Tuesday, December 16th, Chidozie Ugwumba sold 7,030 shares of Clene stock. The stock was sold at an average price of $6.31, for a total transaction of $44,359.30.
• On Monday, December 15th, Chidozie Ugwumba sold 10,580 shares of Clene stock. The shares were sold at an average price of $6.49, for a total value of $68,664.20.
• On Friday, December 12th, Chidozie Ugwumba sold 7,603 shares of Clene stock. The shares were sold at an average price of $6.79, for a total value of $51,624.37.
• On Wednesday, December 10th, Chidozie Ugwumba sold 9,921 shares of Clene stock. The stock was sold at an average price of $6.42, for a total value of $63,692.82.
• On Tuesday, December 9th, Chidozie Ugwumba sold 15,031 shares of Clene stock. The stock was sold at an average price of $5.95, for a total value of $89,434.45.
• On Monday, December 8th, Chidozie Ugwumba sold 21,463 shares of Clene stock. The shares were sold at an average price of $5.70, for a total value of $122,339.10.
• On Friday, December 5th, Chidozie Ugwumba sold 37,235 shares of Clene stock. The stock was sold at an average price of $5.94, for a total transaction of $221,175.90.
• On Thursday, December 4th, Chidozie Ugwumba sold 72,748 shares of Clene stock. The stock was sold at an average price of $6.73, for a total value of $489,594.04.

Clene Stock Performance

CLNN traded down $0.48 during mid-day trading on Thursday, reaching $6.04. 82,450 shares of the stock were exchanged, compared to its average volume of 107,940. The stock has a market capitalization of $62.39 million, a PE ratio of -1.78 and a beta of 0.79. The company has a 50 day moving average price of $8.62 and a two-hundred day moving average price of $6.20. Clene Inc. has a 1 year low of $2.28 and a 1 year high of $13.50.

Clene (NASDAQ:CLNN) last posted 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 firm 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 fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CLNN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clene in a research note on Tuesday, October 14th. D. Boral Capital reaffirmed a “buy” rating and set a $23.00 price target on shares of Clene in a research report on Wednesday, December 10th. UBS Group reissued a “buy” rating on shares of Clene in a research report on Wednesday, December 3rd. Finally, Benchmark reaffirmed a “buy” rating on shares of Clene in a research report on Thursday, December 4th. 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.60.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CLNN. Scoggin Management LP grew its stake in shares of Clene by 75.1% during the 3rd quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock worth $1,506,000 after acquiring an additional 107,250 shares during the period. Lunt Capital Management Inc. raised 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 valued at $315,000 after acquiring an additional 1,250 shares during the period. Jane Street Group LLC bought a new stake in Clene in the 2nd quarter valued at about $47,000. Finally, Jones Financial Companies Lllp purchased a new stake in Clene during the third quarter valued at about $29,000. Hedge funds and other institutional investors own 23.28% of the company’s stock.

About Clene

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug candidate is CNM-Au8, which is being studied in various clinical trials, including a completed Phase 2 platform trial to evaluate the safety and efficacy of CNM-Au8 in patients with amyotrophic lateral sclerosis (ALS); completed Phase 2 proof of concept clinical trial in patients with early symptomatic ALS; completed two open-label investigator blinded Phase 2 clinical trials on the brain's energy metabolites; completed Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a second Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.