Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 26,105 Shares

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 26,105 shares of the stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $4.89, for a total transaction of $127,653.45. Following the transaction, the insider owned 682,482 shares in the company, valued at $3,337,336.98. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% 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, January 15th, Chidozie Ugwumba sold 12,563 shares of Clene stock. The stock was sold at an average price of $5.10, for a total transaction of $64,071.30.
• On Wednesday, January 14th, Chidozie Ugwumba sold 19,621 shares of Clene stock. The shares were sold at an average price of $5.12, for a total transaction of $100,459.52.
• On Monday, January 12th, Chidozie Ugwumba sold 32,705 shares of Clene stock. The shares were sold at an average price of $5.50, for a total transaction of $179,877.50.
• On Friday, January 9th, Chidozie Ugwumba sold 9,075 shares of Clene stock. The stock was sold at an average price of $6.27, for a total transaction of $56,900.25.
• On Thursday, January 8th, Chidozie Ugwumba sold 3,195 shares of Clene stock. The shares were sold at an average price of $6.09, for a total value of $19,457.55.
• On Wednesday, January 7th, Chidozie Ugwumba sold 3,938 shares of Clene stock. The shares were sold at an average price of $6.29, for a total transaction of $24,770.02.
• On Tuesday, January 6th, Chidozie Ugwumba sold 3,111 shares of Clene stock. The stock was sold at an average price of $6.04, for a total transaction of $18,790.44.
• On Monday, January 5th, Chidozie Ugwumba sold 5,869 shares of Clene stock. The stock was sold at an average price of $5.87, for a total value of $34,451.03.
• On Friday, January 2nd, Chidozie Ugwumba sold 4,015 shares of Clene stock. The shares were sold at an average price of $5.73, for a total value of $23,005.95.
• On Wednesday, December 31st, Chidozie Ugwumba sold 13,095 shares of Clene stock. The shares were sold at an average price of $5.81, for a total value of $76,081.95.

Clene Stock Up 2.0%

Shares of NASDAQ:CLNN traded up $0.10 during trading on Friday, reaching $5.21. The stock had a trading volume of 31,933 shares, compared to its average volume of 130,336. The stock has a fifty day simple moving average of $7.23 and a two-hundred day simple moving average of $6.44. Clene Inc. has a 52 week low of $2.28 and a 52 week high of $13.50. The firm has a market capitalization of $56.57 million, a price-to-earnings ratio of -1.53 and a beta of 0.87.

Clene (NASDAQ:CLNN) last issued 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 business had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.06 million. On average, analysts forecast that Clene Inc. will post -5.19 EPS for the current year.

Institutional Investors Weigh In On Clene

A number of institutional investors and hedge funds have recently made changes to their positions in CLNN. Scoggin Management LP boosted its stake in Clene by 75.1% in the third quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock valued at $1,506,000 after acquiring an additional 107,250 shares during the last quarter. Lunt Capital Management Inc. boosted its holdings in 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 last quarter. Jane Street Group LLC acquired a new position in Clene during the second quarter valued at approximately $47,000. Finally, Jones Financial Companies Lllp acquired a new position in shares of Clene in the 3rd quarter valued at $29,000. Institutional investors own 23.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CLNN shares. D. Boral Capital reissued a “buy” rating and issued a $23.00 target price on shares of Clene in a research note on Friday, January 9th. Benchmark reaffirmed a “buy” rating on shares of Clene in a research note on Thursday, December 4th. UBS Group reiterated a “buy” rating on shares of Clene in a research note on Wednesday, December 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clene in a research note on Friday, January 9th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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).