Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells 6,418 Shares of Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 6,418 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $5.02, for a total value of $32,218.36. Following the completion of the transaction, the insider directly owned 593,185 shares of the company’s stock, valued at approximately $2,977,788.70. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Wednesday, January 28th, Chidozie Ugwumba sold 8,717 shares of Clene stock. The stock was sold at an average price of $4.91, for a total value of $42,800.47.
• On Tuesday, January 27th, Chidozie Ugwumba sold 4,139 shares of Clene stock. The stock was sold at an average price of $5.08, for a total value of $21,026.12.
• On Friday, January 23rd, Chidozie Ugwumba sold 5,556 shares of Clene stock. The shares were sold at an average price of $5.27, for a total transaction of $29,280.12.
• 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 transaction of $67,377.80.
• On Wednesday, January 21st, Chidozie Ugwumba sold 12,119 shares of Clene stock. The shares were sold at an average price of $5.05, for a total transaction 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 shares were 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 stock was sold at an average price of $4.89, for a total value of $127,653.45.

Clene Stock Performance

Shares of NASDAQ:CLNN traded down $0.28 on Wednesday, hitting $4.91. The stock had a trading volume of 92,400 shares, compared to its average volume of 124,439. The firm’s 50 day moving average price is $6.61 and its 200-day moving average price is $6.55. Clene Inc. has a twelve month low of $2.28 and a twelve month high of $13.50. The company has a market capitalization of $53.27 million, a price-to-earnings ratio of -1.45 and a beta of 0.87.

Clene (NASDAQ:CLNN) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.25). The company had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.06 million. As a group, sell-side analysts predict that Clene Inc. will post -5.19 EPS for the current year.

Institutional Investors Weigh In On Clene

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lunt Capital Management Inc. lifted its stake in shares of 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 purchasing an additional 21,217 shares during the period. Scoggin Management LP grew its holdings in shares of Clene by 75.1% during the third quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock valued at $1,506,000 after buying an additional 107,250 shares during the last quarter. Jane Street Group LLC bought a new stake in Clene during the 2nd quarter worth approximately $47,000. Finally, Jones Financial Companies Lllp bought a new stake in Clene during the third quarter worth $29,000. Institutional investors and hedge funds own 23.28% of the company’s stock.

Analysts Set New Price Targets

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