Chidozie Ugwumba Sells 6,374 Shares of Clene (NASDAQ:CLNN) Stock

Key Points

• Chidozie Ugwumba sold 6,374 Clene shares on April 15 at an average of $6.48 (proceeds $41,303.52) and has conducted multiple sales since January, cutting his ownership by 1.59% to 395,517 shares valued at about $2.56 million.
• Clene shares traded down to $6.31 (market cap ~$74.3M); the company reported a quarterly loss of $(0.88) per share and minimal revenue, while analysts show a mixed view but an average rating of "Moderate Buy" with a $33.00 price target.

Clene Inc. (NASDAQ:CLNN - Get Free Report) major shareholder Chidozie Ugwumba sold 6,374 shares of the company's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $6.48, for a total transaction of $41,303.52. Following the completion of the sale, the insider directly owned 395,517 shares of the company's stock, valued at $2,562,950.16. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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, 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 shares were sold at an average price of $6.40, for a total value of $49,587.20.
• On Thursday, April 2nd, Chidozie Ugwumba sold 24,925 shares of Clene stock. The shares were sold at an average price of $4.81, for a total value of $119,889.25.
• On Wednesday, April 1st, Chidozie Ugwumba sold 4,278 shares of Clene stock. The shares were 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 stock was 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 shares were 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 stock was sold at an average price of $4.91, for a total value 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 value of $21,026.12.

Clene Stock Down 0.6%

Shares of Clene stock traded down $0.04 during trading on Friday, reaching $6.31. The company's stock had a trading volume of 68,601 shares, compared to its average volume of 87,043. The business has a 50 day moving average price of $5.36 and a 200-day moving average price of $6.66. Clene Inc. has a 12-month low of $2.28 and a 12-month high of $13.50. The company has a market capitalization of $74.33 million, a P/E ratio of -2.43 and a beta of 0.62.

Clene (NASDAQ:CLNN - Get Free Report) last issued its 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 business had revenue of $0.08 million for the quarter, compared to the consensus estimate of $0.03 million. Research analysts predict that Clene Inc. will post -5.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CLNN. D. Boral Capital reiterated a "buy" rating and set a $23.00 price objective on shares of Clene in a report on Thursday, March 12th. Canaccord Genuity Group reissued a "buy" rating and set a $48.00 price objective on shares of Clene in a research note on Friday, March 13th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Clene in a report on Friday, January 9th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $33.00.

Institutional Investors Weigh In On Clene

Institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp acquired a new position in Clene during the 3rd quarter valued at approximately $29,000. Jane Street Group LLC bought a new position in shares of Clene during the second quarter worth 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 worth $175,000 after acquiring an additional 17,300 shares during the last quarter. PEAK6 LLC acquired a new stake in shares of Clene in the 4th quarter worth about $294,000. Finally, Lunt Capital Management Inc. increased its holdings in shares of Clene by 2.5% in 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 during the period. 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).

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