Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells 13,095 Shares of Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 13,095 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $5.81, for a total transaction of $76,081.95. Following the sale, the insider directly owned 770,495 shares of the company’s stock, valued at $4,476,575.95. This represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 Friday, January 2nd, Chidozie Ugwumba sold 4,015 shares of Clene stock. The stock was sold at an average price of $5.73, for a total transaction of $23,005.95.
• On Tuesday, December 30th, Chidozie Ugwumba sold 4,138 shares of Clene stock. The shares were sold at an average price of $6.03, for a total transaction of $24,952.14.
• On Monday, December 29th, Chidozie Ugwumba sold 8,096 shares of Clene stock. The shares were sold at an average price of $5.95, for a total transaction of $48,171.20.
• On Tuesday, December 23rd, Chidozie Ugwumba sold 6,831 shares of Clene stock. The stock was sold at an average price of $6.27, for a total transaction of $42,830.37.
• On Friday, December 26th, Chidozie Ugwumba sold 3,350 shares of Clene stock. The shares were sold at an average price of $6.32, for a total transaction of $21,172.00.
• On Wednesday, December 24th, Chidozie Ugwumba sold 1,490 shares of Clene stock. The shares were sold at an average price of $6.27, for a total value of $9,342.30.
• On Monday, December 22nd, Chidozie Ugwumba sold 4,367 shares of Clene stock. The stock was sold at an average price of $6.54, for a total value of $28,560.18.
• On Friday, December 19th, Chidozie Ugwumba sold 5,582 shares of Clene stock. The stock was sold at an average price of $6.45, for a total value of $36,003.90.
• On Wednesday, December 3rd, Chidozie Ugwumba sold 56,577 shares of Clene stock. The stock was sold at an average price of $7.86, for a total value of $444,695.22.
• 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.

Clene Trading Down 1.7%

Shares of Clene stock traded down $0.10 during trading on Friday, hitting $5.77. 53,787 shares of the stock traded hands, compared to its average volume of 142,077. The stock’s fifty day simple moving average is $8.11 and its 200 day simple moving average is $6.33. The firm has a market cap of $59.60 million, a P/E ratio of -1.70 and a beta of 0.88. Clene Inc. has a 52-week low of $2.28 and a 52-week high of $13.50.

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

Hedge Funds Weigh In On Clene

A number of large investors have recently made changes to their positions in the business. Lunt Capital Management Inc. boosted 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 worth $199,000 after purchasing an additional 21,217 shares in the last quarter. Scoggin Management LP raised 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 buying an additional 107,250 shares during the last quarter. Jane Street Group LLC acquired a new stake in Clene in the second quarter worth about $47,000. Finally, Jones Financial Companies Lllp acquired a new stake in Clene in the third quarter worth about $29,000. 23.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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