Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 10,580 Shares

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 10,580 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $6.49, for a total transaction of $68,664.20. Following the transaction, the insider directly owned 408,880 shares of the company’s stock, valued at $2,653,631.20. This represents a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more 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 shares were sold at an average price of $7.86, for a total transaction 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 transaction of $36,815.28.
• On Wednesday, December 17th, Chidozie Ugwumba sold 2,884 shares of Clene stock. The stock was sold at an average price of $6.61, for a total transaction 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 transaction of $44,359.30.
• 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 Thursday, December 11th, Chidozie Ugwumba sold 10,907 shares of Clene stock. The stock was sold at an average price of $6.81, for a total value of $74,276.67.
• On Wednesday, December 10th, Chidozie Ugwumba sold 9,921 shares of Clene stock. The shares were sold at an average price of $6.42, for a total value of $63,692.82.
• On Tuesday, December 9th, Chidozie Ugwumba sold 15,031 shares of Clene stock. The shares were sold at an average price of $5.95, for a total value of $89,434.45.
• On Monday, December 8th, Chidozie Ugwumba sold 21,463 shares of Clene stock. The stock was sold at an average price of $5.70, for a total value of $122,339.10.
• On Friday, December 5th, Chidozie Ugwumba sold 37,235 shares of Clene stock. The stock was sold at an average price of $5.94, for a total value of $221,175.90.

Clene Trading Down 7.4%

Shares of NASDAQ:CLNN opened at $6.04 on Friday. Clene Inc. has a 12-month low of $2.28 and a 12-month high of $13.50. The business has a 50 day moving average of $8.55 and a two-hundred day moving average of $6.20. The company has a market capitalization of $62.42 million, a PE ratio of -1.78 and a beta of 0.79.

Clene (NASDAQ:CLNN) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.25). The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.06 million. Equities research analysts predict that Clene Inc. will post -5.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CLNN. Lunt Capital Management Inc. lifted its stake in Clene by 71.2% in the 2nd quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock valued at $199,000 after buying an additional 21,217 shares in the last quarter. Jane Street Group LLC purchased a new stake in Clene during the 2nd quarter worth approximately $47,000. Scoggin Management LP raised its holdings in shares of Clene by 42.8% during the second quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock valued at $558,000 after acquiring an additional 42,750 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in shares of Clene in the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 23.28% of the company’s stock.

About Clene

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.