Chidozie Ugwumba Sells 10,907 Shares of Clene (NASDAQ:CLNN) Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 10,907 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $6.81, for a total transaction of $74,276.67. Following the sale, the insider directly owned 427,063 shares in the company, valued at $2,908,299.03. The trade was a 2.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large 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 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 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 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 value of $51,624.37.
• 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.
• 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 transaction of $489,594.04.

Clene Stock Down 7.4%

Shares of CLNN stock traded down $0.48 on Thursday, reaching $6.04. The company’s stock had a trading volume of 82,450 shares, compared to its average volume of 107,940. Clene Inc. has a 12-month low of $2.28 and a 12-month high of $13.50. The company has a market capitalization of $62.39 million, a P/E ratio of -1.78 and a beta of 0.79. The stock’s 50 day simple moving average is $8.62 and its 200-day simple moving average is $6.20.

Clene (NASDAQ:CLNN) last posted its 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. Research analysts expect that Clene Inc. will post -5.19 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. D. Boral Capital restated a “buy” rating and issued a $23.00 price objective on shares of Clene in a research report on Wednesday, December 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Clene in a research report on Tuesday, October 14th. Benchmark reiterated a “buy” rating on shares of Clene in a research report on Thursday, December 4th. Finally, UBS Group restated a “buy” rating on shares of Clene in a research report on Wednesday, December 3rd. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Hedge Funds Weigh In On Clene

A number of large investors have recently bought and sold shares of the stock. Scoggin Management LP lifted its position 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 purchasing an additional 107,250 shares during the last quarter. Lunt Capital Management Inc. raised its holdings in Clene by 2.5% during the 3rd quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock valued at $315,000 after buying an additional 1,250 shares during the last quarter. Jane Street Group LLC bought a new stake in Clene in the 2nd quarter worth $47,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of Clene in the third quarter valued at about $29,000. 23.28% of the stock is owned by hedge funds and other institutional investors.

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.