Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells 15,031 Shares of Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 15,031 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $5.95, for a total value of $89,434.45. Following the sale, the insider owned 447,891 shares in the company, valued at $2,664,951.45. The trade was a 3.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, December 18th, Chidozie Ugwumba sold 5,816 shares of Clene stock. The shares were sold at an average price of $6.33, for a total value of $36,815.28.
• On Wednesday, December 17th, Chidozie Ugwumba sold 2,884 shares of Clene stock. The stock was sold at an average price of $6.61, for a total transaction of $19,063.24.
• On Tuesday, December 16th, Chidozie Ugwumba sold 7,030 shares of Clene stock. The stock was sold at an average price of $6.31, for a total value of $44,359.30.
• On Monday, December 15th, Chidozie Ugwumba sold 10,580 shares of Clene stock. The shares were sold at an average price of $6.49, for a total value of $68,664.20.
• On Friday, December 12th, Chidozie Ugwumba sold 7,603 shares of Clene stock. The stock was sold at an average price of $6.79, for a total transaction of $51,624.37.
• On Thursday, December 11th, Chidozie Ugwumba sold 10,907 shares of Clene stock. The shares were sold at an average price of $6.81, for a total value of $74,276.67.
• On Wednesday, December 10th, Chidozie Ugwumba sold 9,921 shares of Clene stock. The stock was sold at an average price of $6.42, for a total transaction of $63,692.82.
• On Monday, December 8th, Chidozie Ugwumba sold 21,463 shares of Clene stock. The stock was sold at an average price of $5.70, for a total value of $122,339.10.
• On Friday, December 5th, Chidozie Ugwumba sold 37,235 shares of Clene stock. The shares were sold at an average price of $5.94, for a total transaction of $221,175.90.
• On Thursday, December 4th, Chidozie Ugwumba sold 72,748 shares of Clene stock. The stock was sold at an average price of $6.73, for a total value of $489,594.04.

Clene Stock Down 7.4%

Shares of CLNN traded down $0.48 during trading on Thursday, reaching $6.04. 82,450 shares of the company traded hands, compared to its average volume of 107,940. The stock has a market cap of $62.39 million, a PE ratio of -1.78 and a beta of 0.79. Clene Inc. has a twelve month low of $2.28 and a twelve month high of $13.50. The stock has a 50-day simple moving average of $8.62 and a 200-day simple moving average of $6.20.

Clene (NASDAQ:CLNN) last issued 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 firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.06 million. On average, equities research analysts predict that Clene Inc. will post -5.19 EPS for the current year.

Institutional Investors Weigh In On Clene

A number of large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new stake in Clene during the 3rd quarter worth $29,000. Jane Street Group LLC acquired a new position in shares of Clene during the second quarter valued at $47,000. Lunt Capital Management Inc. grew its holdings in Clene by 71.2% in the 2nd quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock worth $199,000 after buying an additional 21,217 shares in the last quarter. Finally, Scoggin Management LP increased its stake in Clene by 42.8% during the 2nd quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock valued at $558,000 after buying an additional 42,750 shares during the period. Institutional investors and hedge funds own 23.28% of the company’s stock.

Analyst Upgrades and Downgrades

CLNN has been the subject of several research analyst reports. UBS Group restated a “buy” rating on shares of Clene in a report on Wednesday, December 3rd. D. Boral Capital reiterated a “buy” rating and issued a $23.00 target price on shares of Clene in a research note on Wednesday, December 10th. Benchmark reissued a “buy” rating on shares of Clene in a report on Thursday, December 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a report on Tuesday, October 14th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.60.

About Clene

Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug candidate is CNM-Au8, which is being studied in various clinical trials, including a completed Phase 2 platform trial to evaluate the safety and efficacy of CNM-Au8 in patients with amyotrophic lateral sclerosis (ALS); completed Phase 2 proof of concept clinical trial in patients with early symptomatic ALS; completed two open-label investigator blinded Phase 2 clinical trials on the brain's energy metabolites; completed Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a second Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.