Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 22,177 Shares

Key Points

• Major shareholder Chidozie Ugwumba sold 22,177 Clene shares on May 11 at an average price of $6.75, for proceeds of about $149,695. After the sale, Ugwumba still held 176,713 shares, reducing ownership by 11.15%.
• Ugwumba has also been actively selling Clene stock in multiple recent transactions, including large sales on May 12 and May 4, alongside several smaller sales in late April. The filings indicate a steady reduction in the insider’s stake.
• Clene shares were flat at $6.50 in midday trading, with the company valued at about $76.6 million. The stock remains below its 12-month high of $13.50, while analysts still hold a Moderate Buy consensus with an average price target of $33.25.

Clene Inc. (NASDAQ:CLNN - Get Free Report) major shareholder Chidozie Ugwumba sold 22,177 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $6.75, for a total transaction of $149,694.75. Following the sale, the insider directly owned 176,713 shares of the company's stock, valued at approximately $1,192,812.75. This represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 Tuesday, May 12th, Chidozie Ugwumba sold 73,296 shares of Clene stock. The stock was sold at an average price of $6.20, for a total transaction of $454,435.20.
• On Monday, May 4th, Chidozie Ugwumba sold 72,884 shares of Clene stock. The stock was sold at an average price of $6.80, for a total transaction of $495,611.20.
• On Friday, May 1st, Chidozie Ugwumba sold 5,795 shares of Clene stock. The stock was sold at an average price of $6.01, for a total transaction of $34,827.95.
• On Thursday, April 30th, Chidozie Ugwumba sold 5,736 shares of Clene stock. The stock was sold at an average price of $6.08, for a total transaction of $34,874.88.
• On Wednesday, April 29th, Chidozie Ugwumba sold 12,170 shares of Clene stock. The stock was sold at an average price of $5.63, for a total transaction of $68,517.10.
• 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 transaction of $9,386.90.
• 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 Monday, April 20th, Chidozie Ugwumba sold 4,318 shares of Clene stock. The stock was sold at an average price of $6.12, for a total transaction 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 transaction 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 transaction of $49,587.20.

Clene Price Performance

Clene stock remained flat at $6.50 during mid-day trading on Wednesday. 161,002 shares of the company's stock traded hands, compared to its average volume of 363,673. The firm has a market capitalization of $76.57 million, a PE ratio of -2.50 and a beta of 0.89. Clene Inc. has a 12-month low of $2.28 and a 12-month high of $13.50. The firm's fifty day simple moving average is $5.91 and its two-hundred day simple moving average is $6.41.

Clene (NASDAQ:CLNN - Get Free Report) last released 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 firm had revenue of $0.08 million for the quarter, compared to analyst estimates of $0.03 million. As a group, analysts anticipate that Clene Inc. will post -1.99 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp purchased a new position in Clene during the third quarter valued at approximately $29,000. Jane Street Group LLC purchased a new position in Clene during the second quarter valued at approximately $47,000. State Street Corp grew its position in 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 purchased a new position in Clene during the fourth quarter valued at approximately $294,000. Finally, Lunt Capital Management Inc. grew its position 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 purchasing an additional 1,250 shares in the last quarter. 23.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CLNN. HC Wainwright reissued a "buy" rating and issued a $31.00 target price on shares of Clene in a research report on Monday, May 4th. D. Boral Capital reissued a "buy" rating and issued a $23.00 target price on shares of Clene in a research report on Monday, May 4th. Weiss Ratings raised shares of Clene from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $48.00 target price on shares of Clene in a research report on Friday, March 13th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Clene currently has an average rating of "Moderate Buy" and a consensus price target of $33.25.

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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