Clene (NASDAQ:CLNN) Major Shareholder Sells $68,664.20 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 10,580 shares of Clene stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $6.49, for a total value of $68,664.20. Following the completion of the sale, the insider owned 408,880 shares of the company’s stock, valued at $2,653,631.20. This trade represents a 2.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s stock 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 stock was 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 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 stock was sold at an average price of $6.81, for a total value of $74,276.67.
• On Wednesday, December 10th, Chidozie Ugwumba sold 9,921 shares of Clene stock. The shares were 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 stock was 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 shares were 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 shares were sold at an average price of $6.73, for a total value of $489,594.04.

Clene Price Performance

CLNN traded down $0.48 during trading hours on Thursday, reaching $6.04. 82,450 shares of the stock traded hands, compared to its average volume of 107,940. Clene Inc. has a fifty-two week low of $2.28 and a fifty-two week high of $13.50. The company has a market cap of $62.39 million, a price-to-earnings ratio of -1.78 and a beta of 0.79. The firm’s fifty day simple moving average is $8.62 and its two-hundred day simple moving average is $6.20.

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

Institutional Investors Weigh In On Clene

Several hedge funds and other institutional investors have recently bought and sold shares of CLNN. Jones Financial Companies Lllp acquired a new position in shares of Clene in the third quarter worth about $29,000. Jane Street Group LLC acquired a new stake in shares of Clene during the second quarter valued at approximately $47,000. Lunt Capital Management Inc. lifted its position in shares of Clene by 71.2% in the 2nd quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock valued at $199,000 after acquiring an additional 21,217 shares in the last quarter. Finally, Scoggin Management LP boosted its stake in Clene by 42.8% in 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 during the period. 23.28% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on CLNN shares. UBS Group restated a “buy” rating on shares of Clene in a research note on Wednesday, December 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Clene in a research note on Tuesday, October 14th. D. Boral Capital reissued a “buy” rating and set a $23.00 price target on shares of Clene in a report on Wednesday, December 10th. Finally, Benchmark restated a “buy” rating on shares of Clene in a research note on Thursday, December 4th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock 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.