Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 7,748 Shares of Stock

Clene Inc. (NASDAQ:CLNN) major shareholder Chidozie Ugwumba sold 7,748 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $6.40, for a total transaction of $49,587.20. Following the completion of the transaction, the insider owned 387,769 shares of the company’s stock, valued at approximately $2,481,721.60. The trade was a 1.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major 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 Friday, April 17th, Chidozie Ugwumba sold 25,040 shares of Clene stock. The shares were sold at an average price of $6.43, for a total value of $161,007.20.
• 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 value 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 transaction 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 value 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.
• On Wednesday, January 28th, Chidozie Ugwumba sold 8,717 shares of Clene stock. The shares were sold at an average price of $4.91, for a total transaction of $42,800.47.
• On Tuesday, January 27th, Chidozie Ugwumba sold 4,139 shares of Clene stock. The shares were sold at an average price of $5.08, for a total transaction of $21,026.12.

Clene Stock Down 0.6%

CLNN traded down $0.04 during trading on Friday, hitting $6.31. The company’s stock had a trading volume of 68,601 shares, compared to its average volume of 87,043. Clene Inc. has a one year low of $2.28 and a one year high of $13.50. The firm has a market cap of $74.33 million, a PE ratio of -2.43 and a beta of 0.62. The business’s 50 day simple moving average is $5.36 and its 200-day simple moving average is $6.66.

Clene (NASDAQ:CLNN) last issued its quarterly earnings data on Thursday, March 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.14). The firm had revenue of $0.08 million for the quarter, compared to analysts’ expectations of $0.03 million. Equities research analysts expect that Clene Inc. will post -5.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. D. Boral Capital restated a “buy” rating and issued a $23.00 price target on shares of Clene in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clene in a research report on Friday, January 9th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $48.00 price objective on shares of Clene in a research note on Friday, March 13th. Five 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, Clene currently has an average rating of “Moderate Buy” and a consensus target price of $33.00.

Hedge Funds Weigh In On Clene

Several hedge funds have recently modified their holdings of the stock. Lunt Capital Management Inc. grew its stake in Clene by 2.5% during the third 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 bought a new position in shares of Clene during the 3rd quarter valued at about $29,000. Geode Capital Management LLC grew its position in shares of Clene by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 82,079 shares of the company’s stock valued at $482,000 after purchasing an additional 6,090 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Clene in the second quarter worth about $47,000. Finally, State Street Corp increased its holdings in shares of Clene by 138.4% in the fourth quarter. State Street Corp now owns 29,801 shares of the company’s stock worth $175,000 after purchasing an additional 17,300 shares during the last quarter. Hedge funds and other institutional investors own 23.28% of the company’s stock.

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).