Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 5,816 Shares

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 5,816 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $6.33, for a total value of $36,815.28. Following the completion of the sale, the insider owned 393,150 shares of the company’s stock, valued at $2,488,639.50. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Wednesday, December 3rd, Chidozie Ugwumba sold 56,577 shares of Clene stock. The stock was sold at an average price of $7.86, for a total value of $444,695.22.
• 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 transaction of $68,664.20.
• On Friday, December 12th, Chidozie Ugwumba sold 7,603 shares of Clene stock. The shares were 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 stock was sold at an average price of $6.81, for a total transaction 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 Tuesday, December 9th, Chidozie Ugwumba sold 15,031 shares of Clene stock. The shares were 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 stock was 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 shares were sold at an average price of $5.94, for a total value of $221,175.90.

Clene Stock Down 7.4%

CLNN opened at $6.04 on Friday. The firm has a market cap of $62.42 million, a PE ratio of -1.78 and a beta of 0.79. The business has a fifty day simple moving average of $8.55 and a 200-day simple moving average of $6.20. Clene Inc. has a fifty-two week low of $2.28 and a fifty-two week high of $13.50.

Clene (NASDAQ:CLNN) last announced its earnings results on Thursday, November 13th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.25). The firm had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.06 million. On average, equities research analysts anticipate that Clene Inc. will post -5.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Scoggin Management LP lifted its position 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 buying an additional 107,250 shares in the last quarter. Lunt Capital Management Inc. grew its holdings in shares of 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 acquiring an additional 1,250 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Clene in the third quarter worth $29,000. Finally, Jane Street Group LLC acquired a new position in shares of Clene in the second quarter worth $47,000. Institutional investors and hedge funds own 23.28% of the company’s stock.

Analysts Set New Price Targets

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

Clene Company Profile

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.