Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells $34,827.95 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 5,795 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $6.01, for a total transaction of $34,827.95. Following the completion of the sale, the insider directly owned 271,774 shares of the company’s stock, valued at $1,633,361.74. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 Monday, May 4th, Chidozie Ugwumba sold 72,884 shares of Clene stock. The stock was sold at an average price of $6.80, for a total transaction of $495,611.20.
• On Thursday, April 30th, Chidozie Ugwumba sold 5,736 shares of Clene stock. The stock was sold at an average price of $6.08, for a total value of $34,874.88.
• On Wednesday, April 29th, Chidozie Ugwumba sold 12,170 shares of Clene stock. The stock was sold at an average price of $5.63, for a total value of $68,517.10.
• On Tuesday, April 28th, Chidozie Ugwumba sold 1,591 shares of Clene stock. The stock was 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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.

Clene Price Performance

Clene stock opened at $7.39 on Friday. The stock has a market cap of $87.05 million, a P/E ratio of -2.84 and a beta of 0.89. Clene Inc. has a 1 year low of $2.28 and a 1 year high of $13.50. The firm’s 50 day moving average price is $5.82 and its 200-day moving average price is $6.44.

Clene (NASDAQ:CLNN) last released its quarterly earnings data 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 firm had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.03 million. As a group, equities analysts expect that Clene Inc. will post -1.99 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Lunt Capital Management Inc. grew its holdings 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 purchasing an additional 1,250 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Clene in the third quarter valued at $29,000. Geode Capital Management LLC raised its holdings in Clene by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock valued at $482,000 after buying an additional 6,090 shares during the period. Jane Street Group LLC purchased a new stake in Clene during the 2nd quarter valued at $47,000. Finally, State Street Corp raised its holdings in Clene by 138.4% during the 4th 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 during the period. 23.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CLNN shares. Weiss Ratings cut shares of Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 22nd. D. Boral Capital reissued a “buy” rating and issued a $23.00 target price on shares of Clene in a report on Monday. Canaccord Genuity Group reissued a “buy” rating and issued a $48.00 target price on shares of Clene in a report on Friday, March 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $31.00 target price on shares of Clene in a report on Monday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Clene has an average rating of “Moderate Buy” and an average price target of $33.25.

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).