Clene (NASDAQ:CLNN) Major Shareholder Sells $21,261.66 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 4,278 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $4.97, for a total transaction of $21,261.66. Following the completion of the transaction, the insider directly owned 426,816 shares of the company’s stock, valued at approximately $2,121,275.52. This represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more 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 Tuesday, February 3rd, Chidozie Ugwumba sold 5,559 shares of Clene stock. The stock was sold at an average price of $4.10, for a total transaction of $22,791.90.
• On Monday, February 2nd, Chidozie Ugwumba sold 3,800 shares of Clene stock. The stock was sold at an average price of $4.04, for a total transaction of $15,352.00.
• On Friday, January 30th, Chidozie Ugwumba sold 5,686 shares of Clene stock. The shares were sold at an average price of $4.13, for a total value of $23,483.18.
• On Thursday, January 29th, Chidozie Ugwumba sold 15,284 shares of Clene stock. The shares were sold at an average price of $4.32, for a total value of $66,026.88.
• On Wednesday, January 28th, Chidozie Ugwumba sold 8,717 shares of Clene stock. The shares were 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 Monday, January 26th, Chidozie Ugwumba sold 6,418 shares of Clene stock. The shares were sold at an average price of $5.02, for a total value of $32,218.36.
• 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 value of $29,280.12.
• On Thursday, January 22nd, Chidozie Ugwumba sold 12,665 shares of Clene stock. The shares were 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.

Clene Stock Performance

CLNN traded down $0.03 during midday trading on Thursday, hitting $4.86. The stock had a trading volume of 59,795 shares, compared to its average volume of 92,174. The company has a market cap of $57.21 million, a P/E ratio of -1.87 and a beta of 0.62. Clene Inc. has a 1 year low of $2.28 and a 1 year high of $13.50. The business has a fifty day moving average of $4.99 and a 200 day moving average of $6.67.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.88) earnings per share 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 analysts’ expectations of $0.03 million. On average, equities research analysts anticipate that Clene Inc. will post -5.19 earnings per share for the current year.

Hedge Funds Weigh In On Clene

Hedge funds and other institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in shares of Clene in the third quarter worth about $29,000. Jane Street Group LLC bought a new position in Clene during the 2nd quarter valued at approximately $47,000. State Street Corp lifted its holdings in Clene by 138.4% in the 4th quarter. State Street Corp now owns 29,801 shares of the company’s stock worth $175,000 after buying an additional 17,300 shares during the period. PEAK6 LLC purchased a new stake in Clene in the 4th quarter worth approximately $294,000. Finally, Lunt Capital Management Inc. grew its position in shares of Clene by 2.5% in the 3rd quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock worth $315,000 after buying an additional 1,250 shares during the last quarter. 23.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CLNN has been the subject of several analyst reports. UBS Group restated 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 note on Thursday, December 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Clene in a report on Friday, January 9th. D. Boral Capital restated a “buy” rating and set a $23.00 price target on shares of Clene in a research report on Thursday, March 12th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $48.00 price objective on shares of Clene in a research report on Friday, March 13th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently 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).