Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells 5,582 Shares of Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 5,582 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $6.45, for a total transaction of $36,003.90. Following the sale, the insider owned 387,568 shares in the company, valued at approximately $2,499,813.60. The trade was a 1.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more 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, December 22nd, Chidozie Ugwumba sold 4,367 shares of Clene stock. The stock was sold at an average price of $6.54, for a total transaction of $28,560.18.
• 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 transaction 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 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 value 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 stock was sold at an average price of $6.79, for a total value 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.

Clene Price Performance

Shares of Clene stock traded down $0.18 during trading on Tuesday, reaching $6.26. 68,658 shares of the stock traded hands, compared to its average volume of 107,521. Clene Inc. has a 52-week low of $2.28 and a 52-week high of $13.50. The business has a fifty day simple moving average of $8.48 and a two-hundred day simple moving average of $6.26. The company has a market capitalization of $64.67 million, a price-to-earnings ratio of -1.85 and a beta of 0.79.

Clene (NASDAQ:CLNN) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.25). The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.06 million. On average, research analysts predict that Clene Inc. will post -5.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clene

Several hedge funds have recently added to or reduced their stakes in CLNN. Scoggin Management LP grew its stake in shares of Clene by 75.1% during the third quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock valued at $1,506,000 after buying an additional 107,250 shares during the last quarter. Lunt Capital Management Inc. boosted its stake in shares of Clene by 2.5% during 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. Jane Street Group LLC purchased a new position in shares of Clene in the 2nd quarter valued at $47,000. Finally, Jones Financial Companies Lllp bought a new stake in Clene during the third quarter valued at about $29,000. 23.28% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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).