Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 37,235 Shares

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 37,235 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $5.94, for a total value of $221,175.90. Following the completion of the sale, the insider owned 484,385 shares in the company, valued at $2,877,246.90. This trade represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases 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 transaction 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 transaction 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 transaction 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 stock was 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 shares were sold at an average price of $5.70, for a total transaction of $122,339.10.
• On Thursday, December 4th, Chidozie Ugwumba sold 72,748 shares of Clene stock. The stock was sold at an average price of $6.73, for a total value of $489,594.04.

Clene Trading Down 7.4%

NASDAQ CLNN traded down $0.48 during trading hours on Thursday, reaching $6.04. 82,450 shares of the company’s stock were exchanged, compared to its average volume of 107,940. The firm has a fifty day moving average of $8.62 and a 200-day moving average of $6.20. Clene Inc. has a one year low of $2.28 and a one year high of $13.50. The stock has a market cap of $62.39 million, a PE ratio of -1.78 and a beta of 0.79.

Clene (NASDAQ:CLNN) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates 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. As a group, research analysts forecast that Clene Inc. will post -5.19 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp bought a new position in shares of Clene in the 3rd quarter valued at about $29,000. Jane Street Group LLC bought a new stake in shares of Clene during the second quarter worth approximately $47,000. Lunt Capital Management Inc. lifted its holdings in Clene by 71.2% in the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock valued at $199,000 after buying an additional 21,217 shares during the period. Finally, Scoggin Management LP boosted its stake in Clene by 42.8% in the second quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock valued at $558,000 after acquiring an additional 42,750 shares during the last quarter. 23.28% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

About Clene

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.