Insider Selling: Clene (NASDAQ:CLNN) Major Shareholder Sells 6,831 Shares of Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 6,831 shares of the firm’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $6.27, for a total value of $42,830.37. Following the completion of the transaction, the insider directly owned 800,664 shares in the company, valued at approximately $5,020,163.28. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 Friday, December 26th, Chidozie Ugwumba sold 3,350 shares of Clene stock. The shares were sold at an average price of $6.32, for a total value of $21,172.00.
• On Wednesday, December 24th, Chidozie Ugwumba sold 1,490 shares of Clene stock. The stock was sold at an average price of $6.27, for a total value of $9,342.30.
• On Monday, December 22nd, Chidozie Ugwumba sold 4,367 shares of Clene stock. The stock was sold at an average price of $6.54, for a total value of $28,560.18.
• On Friday, December 19th, Chidozie Ugwumba sold 5,582 shares of Clene stock. The shares were sold at an average price of $6.45, for a total value of $36,003.90.
• On Wednesday, December 3rd, Chidozie Ugwumba sold 56,577 shares of Clene stock. The shares were 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 stock was 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 shares were 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 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 stock was sold at an average price of $6.79, for a total transaction of $51,624.37.

Clene Price Performance

Shares of CLNN stock traded up $0.07 on Tuesday, hitting $5.96. 52,752 shares of the stock traded hands, compared to its average volume of 311,304. Clene Inc. has a 52 week low of $2.28 and a 52 week high of $13.50. The firm has a 50 day simple moving average of $8.20 and a two-hundred day simple moving average of $6.34. The firm has a market cap of $61.57 million, a price-to-earnings ratio of -1.76 and a beta of 0.79.

Clene (NASDAQ:CLNN) last issued its earnings results on Thursday, November 13th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.25). The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.06 million. Sell-side analysts forecast that Clene Inc. will post -5.19 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group reissued a “buy” rating on shares of Clene in a research note on Wednesday, December 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clene in a research report on Tuesday, October 14th. D. Boral Capital reissued a “buy” rating and issued a $23.00 target price on shares of Clene in a report on Wednesday, December 10th. Finally, Benchmark restated a “buy” rating on shares of Clene in a research report on Thursday, December 4th. Six equities 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, Clene currently has a consensus rating of “Moderate Buy” and an average price target of $32.60.

Institutional Trading of Clene

A number of large investors have recently added to or reduced their stakes in the company. Scoggin Management LP increased its position in Clene by 75.1% during the third quarter. Scoggin Management LP now owns 250,000 shares of the company’s stock valued at $1,506,000 after acquiring an additional 107,250 shares during the last quarter. Lunt Capital Management Inc. boosted its stake 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 worth $315,000 after purchasing an additional 1,250 shares during the period. Jane Street Group LLC bought a new position in Clene during the 2nd quarter valued at about $47,000. Finally, Jones Financial Companies Lllp purchased a new stake in Clene in the 3rd quarter worth about $29,000. Institutional investors own 23.28% of the company’s stock.

Clene Company Profile

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).