Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells $68,517.10 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 12,170 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $5.63, for a total transaction of $68,517.10. Following the completion of the sale, the insider owned 283,305 shares in the company, valued at $1,595,007.15. The trade was a 4.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large 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 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 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.
• On Wednesday, April 15th, Chidozie Ugwumba sold 6,374 shares of Clene stock. The shares were sold at an average price of $6.48, for a total transaction of $41,303.52.
• On Thursday, April 2nd, Chidozie Ugwumba sold 24,925 shares of Clene stock. The shares were sold at an average price of $4.81, for a total transaction of $119,889.25.
• On Wednesday, April 1st, Chidozie Ugwumba sold 4,278 shares of Clene stock. The shares were sold at an average price of $4.97, for a total transaction of $21,261.66.
• On Tuesday, February 3rd, Chidozie Ugwumba sold 5,559 shares of Clene stock. The shares were sold at an average price of $4.10, for a total transaction of $22,791.90.

Clene Price Performance

NASDAQ CLNN opened at $6.14 on Friday. Clene Inc. has a 12 month low of $2.28 and a 12 month high of $13.50. The firm has a market capitalization of $72.33 million, a PE ratio of -2.36 and a beta of 0.89. The company’s 50 day simple moving average is $5.68 and its 200 day simple moving average is $6.48.

Clene (NASDAQ:CLNN) last posted its quarterly earnings data on Thursday, March 12th. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.14). The company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.03 million. Sell-side analysts anticipate that Clene Inc. will post -1.99 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp acquired a new position in Clene in the third quarter worth approximately $29,000. Jane Street Group LLC acquired a new position in Clene in the second quarter worth approximately $47,000. State Street Corp boosted its stake in Clene by 138.4% in the 4th 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 acquired a new position in Clene in the 4th quarter worth approximately $294,000. Finally, Lunt Capital Management Inc. boosted its stake in Clene by 2.5% in the 3rd 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. Institutional investors and hedge funds own 23.28% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CLNN. D. Boral Capital restated a “buy” rating and issued a $23.00 price target on shares of Clene in a research report on Thursday, March 12th. Canaccord Genuity Group restated a “buy” rating and issued a $48.00 price target on shares of Clene in a research report on Friday, March 13th. Finally, Weiss Ratings lowered shares of Clene from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 22nd. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.00.

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).