Chidozie Ugwumba Sells 5,556 Shares of Clene (NASDAQ:CLNN) Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 5,556 shares of Clene stock in a transaction that occurred on Friday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $29,280.12. Following the completion of the sale, the insider directly owned 599,603 shares of the company’s stock, valued at $3,159,907.81. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 22nd, Chidozie Ugwumba sold 12,665 shares of Clene stock. The stock was sold at an average price of $5.32, for a total value of $67,377.80.
• On Wednesday, January 21st, Chidozie Ugwumba sold 12,119 shares of Clene stock. The stock was sold at an average price of $5.05, for a total value of $61,200.95.
• On Tuesday, January 20th, Chidozie Ugwumba sold 12,432 shares of Clene stock. The shares were sold at an average price of $4.80, for a total value of $59,673.60.
• On Friday, January 16th, Chidozie Ugwumba sold 7,923 shares of Clene stock. The shares were sold at an average price of $5.13, for a total value of $40,644.99.
• 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 value of $64,071.30.
• On Wednesday, January 14th, Chidozie Ugwumba sold 19,621 shares of Clene stock. The stock was sold at an average price of $5.12, for a total value of $100,459.52.
• 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 transaction of $179,877.50.
• On Friday, January 9th, Chidozie Ugwumba sold 9,075 shares of Clene stock. The stock was sold at an average price of $6.27, for a total transaction 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 transaction of $19,457.55.

Clene Price Performance

CLNN stock traded down $0.11 on Friday, hitting $5.31. 60,597 shares of the company were exchanged, compared to its average volume of 132,786. The stock has a market capitalization of $57.61 million, a price-to-earnings ratio of -1.57 and a beta of 0.87. Clene Inc. has a twelve month low of $2.28 and a twelve month high of $13.50. The business’s fifty day moving average is $6.82 and its two-hundred day moving average is $6.48.

Clene (NASDAQ:CLNN) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $0.06 million. Equities research analysts expect that Clene Inc. will post -5.19 earnings per share for the current year.

Hedge Funds Weigh In On Clene

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLNN. Lunt Capital Management Inc. increased its position in shares of Clene by 71.2% during the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock worth $199,000 after acquiring an additional 21,217 shares during the last quarter. Jones Financial Companies Lllp purchased a new position in Clene in the third quarter valued at about $29,000. Scoggin Management LP grew its stake in Clene by 75.1% during the 3rd quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock valued at $1,506,000 after purchasing an additional 107,250 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Clene during the 2nd quarter valued at approximately $47,000. 23.28% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Clene Company Profile

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).