Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 73,296 Shares

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 73,296 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $6.20, for a total transaction of $454,435.20. Following the transaction, the insider owned 103,417 shares of the company’s stock, valued at approximately $641,185.40. This represents a 41.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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 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 value of $149,694.75.
• On Monday, May 4th, Chidozie Ugwumba sold 72,884 shares of Clene stock. The stock was sold at an average price of $6.80, for a total value 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 value of $34,827.95.
• On Thursday, April 30th, Chidozie Ugwumba sold 5,736 shares of Clene stock. The stock was sold at an average price of $6.08, for a total value of $34,874.88.
• On Wednesday, April 29th, Chidozie Ugwumba sold 12,170 shares of Clene stock. The stock was sold at an average price of $5.63, for a total value 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 value 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 stock was 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 stock was 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 Stock Performance

Shares of CLNN remained flat at $6.50 during midday trading on Wednesday. 161,002 shares of the stock were exchanged, compared to its average volume of 363,673. The company’s 50 day simple moving average is $5.91 and its 200 day simple moving average is $6.41. Clene Inc. has a 52 week low of $2.28 and a 52 week high of $13.50. The stock has a market cap of $76.57 million, a price-to-earnings ratio of -2.50 and a beta of 0.89.

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

Analyst Ratings Changes

Several brokerages have recently commented on CLNN. Canaccord Genuity Group reiterated a “buy” rating and set a $48.00 target price on shares of Clene in a research note on Friday, March 13th. D. Boral Capital restated 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 report on Friday. Finally, HC Wainwright reiterated a “buy” rating and issued a $31.00 price objective on shares of Clene in a report on Monday, May 4th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.25.

Institutional Investors Weigh In On Clene

Several hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp acquired a new position in shares of Clene in the third quarter valued at approximately $29,000. Jane Street Group LLC bought a new position in shares of Clene during the second quarter worth approximately $47,000. State Street Corp lifted its holdings in Clene by 138.4% during 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 last quarter. PEAK6 LLC acquired a new stake in Clene during 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 valued at $315,000 after purchasing an additional 1,250 shares during the period. 23.28% of the stock is currently owned by institutional investors and hedge funds.

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).