Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 56,577 Shares

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 56,577 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $7.86, for a total transaction of $444,695.22. Following the completion of the sale, the insider owned 594,368 shares in the company, valued at $4,671,732.48. The trade was a 8.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large 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, December 18th, Chidozie Ugwumba sold 5,816 shares of Clene stock. The stock was 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 shares were sold at an average price of $6.61, for a total value of $19,063.24.
• On Tuesday, December 16th, Chidozie Ugwumba sold 7,030 shares of Clene stock. The shares were 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 stock was 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 value 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 shares were sold at an average price of $6.42, for a total transaction of $63,692.82.
• On Tuesday, December 9th, Chidozie Ugwumba sold 15,031 shares of Clene stock. The stock was sold at an average price of $5.95, for a total transaction of $89,434.45.
• On Monday, December 8th, Chidozie Ugwumba sold 21,463 shares of Clene stock. The shares were sold at an average price of $5.70, for a total transaction of $122,339.10.
• On Friday, December 5th, Chidozie Ugwumba sold 37,235 shares of Clene stock. The stock was sold at an average price of $5.94, for a total transaction of $221,175.90.

Clene Price Performance

Shares of Clene stock traded down $0.48 on Thursday, hitting $6.04. The company had a trading volume of 82,550 shares, compared to its average volume of 107,940. Clene Inc. has a 52 week low of $2.28 and a 52 week high of $13.50. The company has a market cap of $62.39 million, a PE ratio of -1.78 and a beta of 0.79. The business has a 50-day simple moving average of $8.62 and a 200-day simple moving average of $6.20.

Clene (NASDAQ:CLNN) last released its 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 during the quarter, compared to analysts’ expectations of $0.06 million. On average, equities research analysts predict that Clene Inc. will post -5.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clene

A number of institutional investors have recently bought and sold shares of CLNN. Jones Financial Companies Lllp purchased a new position in Clene in the 3rd quarter worth about $29,000. Jane Street Group LLC acquired a new position in shares of Clene in the second quarter worth about $47,000. Lunt Capital Management Inc. increased its position in shares of Clene by 71.2% in 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 in the last quarter. Finally, Scoggin Management LP raised its holdings in shares of Clene by 42.8% during the second quarter. Scoggin Management LP now owns 142,750 shares of the company’s stock valued at $558,000 after acquiring an additional 42,750 shares during the period. Hedge funds and other institutional investors own 23.28% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CLNN. UBS Group reaffirmed a “buy” rating on shares of Clene in a research note on Wednesday, December 3rd. Benchmark restated a “buy” rating on shares of Clene in a research report on Thursday, December 4th. D. Boral Capital reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Clene in a research note on Wednesday, December 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a research note on Tuesday, October 14th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.