Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 7,030 Shares

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 7,030 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $6.31, for a total value of $44,359.30. Following the transaction, the insider directly owned 401,850 shares in the company, valued at approximately $2,535,673.50. This represents a 1.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, December 3rd, Chidozie Ugwumba sold 56,577 shares of Clene stock. The stock was sold at an average price of $7.86, for a total value of $444,695.22.
• 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 value 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 value of $19,063.24.
• On Monday, December 15th, Chidozie Ugwumba sold 10,580 shares of Clene stock. The stock was 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 transaction of $51,624.37.
• On Thursday, December 11th, Chidozie Ugwumba sold 10,907 shares of Clene stock. The shares were sold at an average price of $6.81, for a total transaction of $74,276.67.
• 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 transaction of $63,692.82.
• On Tuesday, December 9th, Chidozie Ugwumba sold 15,031 shares of Clene stock. The shares were sold at an average price of $5.95, for a total transaction of $89,434.45.
• On Monday, December 8th, Chidozie Ugwumba sold 21,463 shares of Clene stock. The stock was sold at an average price of $5.70, for a total transaction of $122,339.10.
• On Friday, December 5th, Chidozie Ugwumba sold 37,235 shares of Clene stock. The shares were sold at an average price of $5.94, for a total transaction of $221,175.90.

Clene Stock Down 7.4%

CLNN stock opened at $6.04 on Friday. Clene Inc. has a twelve month low of $2.28 and a twelve month high of $13.50. The business’s fifty day moving average is $8.55 and its 200-day moving average is $6.20. The company has a market cap of $62.42 million, a P/E ratio of -1.78 and a beta of 0.79.

Clene (NASDAQ:CLNN) last released its earnings results on Thursday, November 13th. The company reported ($0.85) earnings per share 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 analysts’ expectations of $0.06 million. Research analysts anticipate that Clene Inc. will post -5.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clene

Several institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp bought a new position in Clene during the 3rd quarter worth about $29,000. Jane Street Group LLC acquired a new position in shares of Clene during the second quarter worth about $47,000. Lunt Capital Management Inc. boosted its position in shares of Clene by 71.2% during the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock worth $199,000 after buying an additional 21,217 shares during the period. Finally, Scoggin Management LP grew its holdings 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 buying an additional 42,750 shares in the last quarter. 23.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Clene Company Profile

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.