Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 72,748 Shares of Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 72,748 shares of the company’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $6.73, for a total value of $489,594.04. Following the completion of the transaction, the insider owned 521,620 shares of the company’s stock, valued at $3,510,502.60. This trade represents a 12.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 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 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 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 transaction 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 transaction 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 transaction 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 value 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 value 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 value of $122,339.10.

Clene Stock Performance

CLNN stock opened at $6.04 on Friday. The stock has a fifty day moving average of $8.55 and a 200-day 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. The company has a market capitalization of $62.42 million, a price-to-earnings ratio of -1.78 and a beta of 0.79.

Clene (NASDAQ:CLNN) last announced its quarterly earnings data 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 company had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.06 million. Equities analysts predict that Clene Inc. will post -5.19 EPS for the current year.

Hedge Funds Weigh In On Clene

A number of institutional investors have recently made changes to their positions in CLNN. Jones Financial Companies Lllp purchased a new stake in shares of Clene during the 3rd quarter valued at $29,000. Jane Street Group LLC bought a new position in Clene in the second quarter valued at $47,000. Lunt Capital Management Inc. raised its position in Clene by 71.2% during the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock valued at $199,000 after purchasing an additional 21,217 shares in the last quarter. Finally, Scoggin Management LP raised its position in 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 purchasing an additional 42,750 shares in the last quarter. Institutional investors own 23.28% of the company’s stock.

Analyst Ratings Changes

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