Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 7,603 Shares

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 7,603 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $6.79, for a total transaction of $51,624.37. Following the transaction, the insider owned 419,460 shares of the company’s stock, valued at approximately $2,848,133.40. This trade represents a 1.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% 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 stock was 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 shares were sold at an average price of $6.49, for a total transaction of $68,664.20.
• 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 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 shares were 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 stock was sold at an average price of $5.94, for a total value of $221,175.90.
• 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 Stock Performance

NASDAQ CLNN traded down $0.48 during trading hours on Thursday, reaching $6.04. The stock had a trading volume of 82,450 shares, compared to its average volume of 107,940. Clene Inc. has a 52-week low of $2.28 and a 52-week high of $13.50. The stock has a fifty day moving average of $8.62 and a 200 day moving average of $6.20. The stock has a market cap of $62.39 million, a P/E ratio of -1.78 and a beta of 0.79.

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

Hedge Funds Weigh In On Clene

Several institutional investors and hedge funds have recently modified their holdings of the business. Lunt Capital Management Inc. boosted its position 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 purchasing an additional 21,217 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Clene in the second quarter valued at approximately $47,000. Scoggin Management LP increased its position in shares of 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 buying an additional 42,750 shares in the last quarter. Finally, Jones Financial Companies Lllp acquired a new position in shares of Clene during the 3rd quarter worth approximately $29,000. Hedge funds and other institutional investors own 23.28% of the company’s stock.

Wall Street Analyst Weigh In

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