Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells $454,435.20 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 73,296 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $6.20, for a total transaction of $454,435.20. Following the transaction, the insider directly owned 103,417 shares of the company’s stock, valued at approximately $641,185.40. This trade represents a 41.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 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 Monday, May 11th, Chidozie Ugwumba sold 22,177 shares of Clene stock. The shares were sold at an average price of $6.75, for a total transaction of $149,694.75.
• On Monday, May 4th, Chidozie Ugwumba sold 72,884 shares of Clene stock. The shares were sold at an average price of $6.80, for a total transaction of $495,611.20.
• On Friday, May 1st, Chidozie Ugwumba sold 5,795 shares of Clene stock. The shares were sold at an average price of $6.01, for a total transaction of $34,827.95.
• On Thursday, April 30th, Chidozie Ugwumba sold 5,736 shares of Clene stock. The shares were sold at an average price of $6.08, for a total transaction of $34,874.88.
• On Wednesday, April 29th, Chidozie Ugwumba sold 12,170 shares of Clene stock. The shares were sold at an average price of $5.63, for a total transaction of $68,517.10.
• On Tuesday, April 28th, Chidozie Ugwumba sold 1,591 shares of Clene stock. The shares were sold at an average price of $5.90, for a total transaction of $9,386.90.
• On Tuesday, April 21st, Chidozie Ugwumba sold 61,345 shares of Clene stock. The shares were sold at an average price of $6.14, for a total transaction of $376,658.30.
• On Monday, April 20th, Chidozie Ugwumba sold 4,318 shares of Clene stock. The shares were sold at an average price of $6.12, for a total transaction of $26,426.16.
• On Friday, April 17th, Chidozie Ugwumba sold 25,040 shares of Clene stock. The shares were sold at an average price of $6.43, for a total transaction of $161,007.20.
• On Thursday, April 16th, Chidozie Ugwumba sold 7,748 shares of Clene stock. The shares were sold at an average price of $6.40, for a total transaction of $49,587.20.

Clene Trading Up 1.3%

Shares of NASDAQ:CLNN opened at $7.14 on Friday. The company has a market cap of $84.11 million, a price-to-earnings ratio of -2.23 and a beta of 0.89. The company has a 50-day moving average price of $6.01 and a 200-day moving average price of $6.39. Clene Inc. has a 12 month low of $2.28 and a 12 month high of $13.50.

Clene (NASDAQ:CLNN) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.05). The firm had revenue of $0.02 million for the quarter, compared to analysts’ expectations of $0.05 million. As a group, research analysts forecast that Clene Inc. will post -1.99 EPS for the current fiscal year.

Analysts Set New Price Targets

CLNN has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating and issued a $31.00 price target on shares of Clene in a research note on Monday, May 4th. D. Boral Capital reissued a “buy” rating and issued a $23.00 price target on shares of Clene in a research note on Monday, May 4th. Weiss Ratings raised shares of Clene from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 8th. Roth Mkm reissued a “buy” rating on shares of Clene in a research note on Thursday. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $48.00 price target on shares of Clene in a research note on Friday, March 13th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.25.

Institutional Investors Weigh In On Clene

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp purchased a new stake in Clene in the third quarter worth about $29,000. Jane Street Group LLC purchased a new stake in Clene in the second quarter worth about $47,000. State Street Corp grew its holdings in Clene by 138.4% in the fourth quarter. State Street Corp now owns 29,801 shares of the company’s stock worth $175,000 after purchasing an additional 17,300 shares during the period. PEAK6 LLC purchased a new stake in Clene in the fourth quarter worth about $294,000. Finally, Lunt Capital Management Inc. grew its holdings in Clene by 2.5% in the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock worth $315,000 after purchasing an additional 1,250 shares during the period. Hedge funds and other institutional investors own 23.28% of the company’s stock.

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).