Clene (NASDAQ:CLNN) Major Shareholder Sells $26,426.16 in Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 4,318 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $6.12, for a total transaction of $26,426.16. Following the sale, the insider directly owned 358,411 shares of the company’s stock, valued at $2,193,475.32. This trade represents a 1.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large 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 Tuesday, April 21st, Chidozie Ugwumba sold 61,345 shares of Clene stock. The stock was sold at an average price of $6.14, for a total transaction of $376,658.30.
• On Friday, April 17th, Chidozie Ugwumba sold 25,040 shares of Clene stock. The stock was sold at an average price of $6.43, for a total value of $161,007.20.
• On Thursday, April 16th, Chidozie Ugwumba sold 7,748 shares of Clene stock. The stock was sold at an average price of $6.40, for a total value of $49,587.20.
• On Wednesday, April 15th, Chidozie Ugwumba sold 6,374 shares of Clene stock. The shares were sold at an average price of $6.48, for a total transaction of $41,303.52.
• On Thursday, April 2nd, Chidozie Ugwumba sold 24,925 shares of Clene stock. The stock was sold at an average price of $4.81, for a total transaction of $119,889.25.
• On Wednesday, April 1st, Chidozie Ugwumba sold 4,278 shares of Clene stock. The stock was sold at an average price of $4.97, for a total value of $21,261.66.
• On Tuesday, February 3rd, Chidozie Ugwumba sold 5,559 shares of Clene stock. The shares were sold at an average price of $4.10, for a total value of $22,791.90.
• On Monday, February 2nd, Chidozie Ugwumba sold 3,800 shares of Clene stock. The shares were sold at an average price of $4.04, for a total transaction of $15,352.00.
• On Friday, January 30th, Chidozie Ugwumba sold 5,686 shares of Clene stock. The stock was sold at an average price of $4.13, for a total transaction of $23,483.18.
• On Thursday, January 29th, Chidozie Ugwumba sold 15,284 shares of Clene stock. The stock was sold at an average price of $4.32, for a total transaction of $66,026.88.

Clene Trading Up 4.0%

CLNN stock traded up $0.25 during midday trading on Wednesday, reaching $6.57. 80,503 shares of the company’s stock traded hands, compared to its average volume of 91,483. Clene Inc. has a 52-week low of $2.28 and a 52-week high of $13.50. The stock has a market cap of $77.39 million, a P/E ratio of -2.53 and a beta of 0.62. The stock’s 50-day moving average is $5.44 and its 200 day moving average is $6.62.

Clene (NASDAQ:CLNN) last issued its quarterly earnings results on Thursday, March 12th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($0.14). The firm had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.03 million. As a group, research analysts expect that Clene Inc. will post -1.99 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CLNN has been the topic of a number of recent analyst reports. Canaccord Genuity Group reissued a “buy” rating and set a $48.00 price target on shares of Clene in a report on Friday, March 13th. D. Boral Capital reiterated a “buy” rating and set a $23.00 target price on shares of Clene in a research report on Thursday, March 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clene in a research note on Friday, January 9th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $33.00.

Institutional Trading of Clene

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new stake in Clene in the 3rd quarter worth $29,000. Jane Street Group LLC purchased a new position in shares of Clene during the second quarter valued at about $47,000. State Street Corp grew its position in shares of Clene by 138.4% during the fourth quarter. State Street Corp now owns 29,801 shares of the company’s stock valued at $175,000 after purchasing an additional 17,300 shares in the last quarter. PEAK6 LLC bought a new stake in shares of Clene in the fourth quarter worth about $294,000. Finally, Lunt Capital Management Inc. lifted its position in shares of Clene by 2.5% in the third quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company’s stock worth $315,000 after buying an additional 1,250 shares in the last quarter. 23.28% of the stock is currently owned by institutional investors.

About Clene

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).