Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 73,296 Shares of Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 73,296 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $6.20, for a total transaction of $454,435.20. Following the transaction, the insider owned 103,417 shares in the company, valued at $641,185.40. This represents a 41.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Chidozie Ugwumba also recently made the following trade(s):

• On Monday, May 11th, Chidozie Ugwumba sold 22,177 shares of Clene stock. The stock was sold at an average price of $6.75, for a total transaction of $149,694.75.
• On Monday, May 4th, Chidozie Ugwumba sold 72,884 shares of Clene stock. The shares were sold at an average price of $6.80, for a total transaction of $495,611.20.
• On Friday, May 1st, Chidozie Ugwumba sold 5,795 shares of Clene stock. The shares were sold at an average price of $6.01, for a total transaction of $34,827.95.
• On Thursday, April 30th, Chidozie Ugwumba sold 5,736 shares of Clene stock. The stock was sold at an average price of $6.08, for a total transaction of $34,874.88.
• On Wednesday, April 29th, Chidozie Ugwumba sold 12,170 shares of Clene stock. The stock was sold at an average price of $5.63, for a total transaction of $68,517.10.
• On Tuesday, April 28th, Chidozie Ugwumba sold 1,591 shares of Clene stock. The shares were sold at an average price of $5.90, for a total transaction of $9,386.90.
• On Tuesday, April 21st, Chidozie Ugwumba sold 61,345 shares of Clene stock. The shares were sold at an average price of $6.14, for a total value of $376,658.30.
• On Monday, April 20th, Chidozie Ugwumba sold 4,318 shares of Clene stock. The stock was sold at an average price of $6.12, for a total value of $26,426.16.
• On Friday, April 17th, Chidozie Ugwumba sold 25,040 shares of Clene stock. The stock was sold at an average price of $6.43, for a total value of $161,007.20.
• On Thursday, April 16th, Chidozie Ugwumba sold 7,748 shares of Clene stock. The stock was sold at an average price of $6.40, for a total value of $49,587.20.

Clene Stock Performance

Clene stock opened at $6.50 on Thursday. Clene Inc. has a one year low of $2.28 and a one year high of $13.50. The stock has a fifty day moving average of $5.94 and a 200 day moving average of $6.39. The stock has a market cap of $76.57 million, a PE ratio of -2.50 and a beta of 0.89.

Clene (NASDAQ:CLNN) last announced its earnings results on Thursday, March 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.14). The business had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.03 million. As a group, sell-side analysts predict that Clene Inc. will post -1.99 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CLNN has been the topic of a number of research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $48.00 price objective on shares of Clene in a report on Friday, March 13th. D. Boral Capital reiterated a “buy” rating and issued a $23.00 price target on shares of Clene in a research report on Monday, May 4th. Weiss Ratings upgraded shares of Clene from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 8th. Finally, HC Wainwright reiterated a “buy” rating and set a $31.00 price target on shares of Clene in a research note on Monday, May 4th. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.25.

Hedge Funds Weigh In On Clene

A number of hedge funds have recently made changes to their positions in CLNN. SymBiosis Capital Partners LLC bought a new stake in Clene during the 4th quarter valued at approximately $4,523,000. Scoggin Management LP lifted its holdings in Clene by 75.1% in the 3rd quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock worth $1,506,000 after purchasing an additional 107,250 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in Clene by 668.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company’s stock worth $671,000 after purchasing an additional 99,481 shares during the period. Geode Capital Management LLC grew its holdings in Clene by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock valued at $482,000 after buying an additional 6,090 shares in the last quarter. Finally, Lunt Capital Management Inc. grew its holdings in Clene by 2.5% during the 3rd quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock valued at $315,000 after buying an additional 1,250 shares in the last quarter. Institutional investors own 23.28% of the company’s stock.

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).