Chidozie Ugwumba Sells 12,170 Shares of Clene (NASDAQ:CLNN) Stock

Key Points

• Major shareholder Chidozie Ugwumba sold a string of stakes — totaling about 159,084 shares for roughly $932,000 between Feb. 3 and Apr. 30; the Apr. 29 sale of 12,170 shares at $5.63 reduced his position by 4.12% and left him with 283,305 shares (as disclosed to the SEC).
• Clene stock rose 6.2% to $6.16 on the day, but the company remains unprofitable (quarterly EPS of -$0.88) with minimal revenue ($0.08M); market cap is about $72.6M and analysts have a consensus rating of Moderate Buy with an average price target of $34.00.

Clene Inc. (NASDAQ:CLNN - Get Free Report) major shareholder Chidozie Ugwumba sold 12,170 shares of the company's stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $5.63, for a total transaction of $68,517.10. Following the sale, the insider owned 283,305 shares of the company's stock, valued at $1,595,007.15. The trade was a 4.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large 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 Thursday, April 30th, Chidozie Ugwumba sold 5,736 shares of Clene stock. The shares were sold at an average price of $6.08, for a total value of $34,874.88.
• On Tuesday, April 28th, Chidozie Ugwumba sold 1,591 shares of Clene stock. The stock was sold at an average price of $5.90, for a total value of $9,386.90.
• On Tuesday, April 21st, Chidozie Ugwumba sold 61,345 shares of Clene stock. The shares were sold at an average price of $6.14, for a total value of $376,658.30.
• On Monday, April 20th, Chidozie Ugwumba sold 4,318 shares of Clene stock. The shares were sold at an average price of $6.12, for a total value of $26,426.16.
• 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 transaction of $21,261.66.
• On Tuesday, February 3rd, Chidozie Ugwumba sold 5,559 shares of Clene stock. The stock was sold at an average price of $4.10, for a total transaction of $22,791.90.

Clene Stock Up 6.2%

Clene stock traded up $0.36 during midday trading on Thursday, hitting $6.16. 58,233 shares of the stock were exchanged, compared to its average volume of 89,880. The company has a fifty day simple moving average of $5.65 and a two-hundred day simple moving average of $6.50. Clene Inc. has a 52 week low of $2.28 and a 52 week high of $13.50. The stock has a market capitalization of $72.55 million, a PE ratio of -2.37 and a beta of 0.62.

Clene (NASDAQ:CLNN - Get Free Report) last released its quarterly earnings data 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 company had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.03 million. As a group, equities research analysts anticipate that Clene Inc. will post -1.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Clene

Several institutional investors have recently bought and sold shares of the company. Lunt Capital Management Inc. grew 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 acquiring an additional 1,250 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Clene in the third quarter valued at approximately $29,000. Geode Capital Management LLC raised its holdings in shares of Clene by 8.0% in 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 during the last quarter. Jane Street Group LLC acquired a new stake in shares of Clene in the second quarter valued at approximately $47,000. Finally, State Street Corp raised 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 valued at $175,000 after purchasing an additional 17,300 shares during the last quarter. Institutional investors own 23.28% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CLNN. Weiss Ratings cut shares of Clene from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 22nd. D. Boral Capital restated a "buy" rating and issued a $23.00 price objective on shares of Clene in a research report on Thursday, March 12th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $48.00 price objective on shares of Clene in a research report on Friday, March 13th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Clene presently has a consensus rating of "Moderate Buy" and an average price target of $34.00.

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).

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