Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 19,621 Shares

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 19,621 shares of Clene stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $5.12, for a total transaction of $100,459.52. Following the completion of the transaction, the insider owned 662,861 shares in the company, valued at approximately $3,393,848.32. This represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 Thursday, January 15th, Chidozie Ugwumba sold 12,563 shares of Clene stock. The stock was sold at an average price of $5.10, for a total transaction of $64,071.30.
• On Tuesday, January 13th, Chidozie Ugwumba sold 26,105 shares of Clene stock. The shares were sold at an average price of $4.89, for a total value of $127,653.45.
• On Monday, January 12th, Chidozie Ugwumba sold 32,705 shares of Clene stock. The shares were sold at an average price of $5.50, for a total value of $179,877.50.
• On Friday, January 9th, Chidozie Ugwumba sold 9,075 shares of Clene stock. The shares were sold at an average price of $6.27, for a total value of $56,900.25.
• On Thursday, January 8th, Chidozie Ugwumba sold 3,195 shares of Clene stock. The shares were sold at an average price of $6.09, for a total value of $19,457.55.
• On Wednesday, January 7th, Chidozie Ugwumba sold 3,938 shares of Clene stock. The stock was sold at an average price of $6.29, for a total value of $24,770.02.
• On Tuesday, January 6th, Chidozie Ugwumba sold 3,111 shares of Clene stock. The stock was sold at an average price of $6.04, for a total value of $18,790.44.
• On Monday, January 5th, Chidozie Ugwumba sold 5,869 shares of Clene stock. The shares were sold at an average price of $5.87, for a total transaction of $34,451.03.
• On Friday, January 2nd, Chidozie Ugwumba sold 4,015 shares of Clene stock. The shares were sold at an average price of $5.73, for a total transaction of $23,005.95.
• On Wednesday, December 31st, Chidozie Ugwumba sold 13,095 shares of Clene stock. The stock was sold at an average price of $5.81, for a total transaction of $76,081.95.

Clene Stock Performance

CLNN stock opened at $5.05 on Friday. The stock has a market capitalization of $54.79 million, a PE ratio of -1.49 and a beta of 0.87. The company has a fifty day moving average of $7.14 and a 200-day moving average of $6.45. Clene Inc. has a one year low of $2.28 and a one year high of $13.50.

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

Hedge Funds Weigh In On Clene

Hedge funds have recently added to or reduced their stakes in the business. Lunt Capital Management Inc. lifted its holdings in shares of Clene by 2.5% in the third 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 in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Clene during the 3rd quarter worth approximately $29,000. Jane Street Group LLC acquired a new position in shares of Clene during the 2nd quarter worth approximately $47,000. Finally, Scoggin Management LP raised its position in shares of Clene by 42.8% during the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock worth $558,000 after purchasing an additional 42,750 shares during the last quarter. 23.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CLNN has been the subject of a number of recent analyst reports. D. Boral Capital reissued a “buy” rating and issued a $23.00 target price on shares of Clene in a report on Friday, January 9th. UBS Group reiterated a “buy” rating on shares of Clene in a report on Wednesday, December 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a report on Friday, January 9th. Finally, Benchmark restated a “buy” rating on shares of Clene in a research report on Thursday, December 4th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Clene currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.60.

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).