Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 10,907 Shares

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 10,907 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $6.81, for a total value of $74,276.67. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Chidozie Ugwumba also recently made the following trade(s):

• 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.
• 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 shares were 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 transaction 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 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 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.

Clene Price Performance

CLNN stock opened at $6.04 on Friday. Clene Inc. has a 1 year low of $2.28 and a 1 year high of $13.50. The firm has a 50-day moving average of $8.55 and a 200 day moving average of $6.20. The company has a market cap of $62.42 million, a P/E ratio of -1.78 and a beta of 0.79.

Clene (NASDAQ:CLNN) last posted its earnings results 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 business had revenue of $0.02 million during the quarter, compared to analysts’ expectations of $0.06 million. On average, equities research analysts expect that Clene Inc. will post -5.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Clene

Institutional investors and hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new position in shares of Clene in the 3rd quarter worth about $29,000. Jane Street Group LLC bought a new stake in Clene during the 2nd quarter valued at about $47,000. Lunt Capital Management Inc. raised 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 worth $199,000 after buying an additional 21,217 shares during the last quarter. Finally, Scoggin Management LP raised its holdings in Clene by 42.8% in the second quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after buying an additional 42,750 shares during the last quarter. 23.28% of the stock is currently owned by 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.