Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 5,736 Shares

Key Points

• Major shareholder Chidozie Ugwumba sold shares again on April 30, disposing of 5,736 shares at $6.08 and now owning 277,569 shares (a 2.02% reduction); he has conducted multiple large sales in April, including 61,345 shares on April 21 and 25,040 on April 17.
• Shares moved higher that day, trading up 6.2% to $6.16 with volume of 58,233 (below the 89,880 average); the stock has a 52‑week range of $2.28–$13.50, a market cap of ~$72.6 million, and negative earnings (P/E shown as -2.37).
• Company and analyst outlook: Clene is a clinical‑stage biopharma developing CNM‑Au8 for neurodegenerative diseases, and analyst coverage is mixed but averages a "Moderate Buy" with an average price target of $34.00.

Clene Inc. (NASDAQ:CLNN - Get Free Report) major shareholder Chidozie Ugwumba sold 5,736 shares of the firm's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $6.08, for a total transaction of $34,874.88. Following the completion of the sale, the insider directly owned 277,569 shares of the company's stock, valued at approximately $1,687,619.52. The trade was a 2.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 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.
• On Wednesday, April 15th, Chidozie Ugwumba sold 6,374 shares of Clene stock. The stock was 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 shares were sold at an average price of $4.10, for a total transaction of $22,791.90.

Clene Trading Up 6.2%

Shares of NASDAQ CLNN traded up $0.36 during trading hours on Thursday, reaching $6.16. The stock had a trading volume of 58,233 shares, compared to its average volume of 89,880. Clene Inc. has a 52-week low of $2.28 and a 52-week high of $13.50. The firm has a market cap of $72.55 million, a price-to-earnings ratio of -2.37 and a beta of 0.62. The business's fifty day moving average price is $5.65 and its two-hundred day moving average price is $6.50.

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 analysts' consensus estimates of ($0.74) by ($0.14). The business had revenue of $0.08 million during the quarter, compared to analyst estimates of $0.03 million. Equities research analysts anticipate that Clene Inc. will post -1.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CLNN has been the subject of several recent research reports. Canaccord Genuity Group restated a "buy" rating and issued a $48.00 price objective on shares of Clene in a report on Friday, March 13th. Weiss Ratings downgraded shares of Clene from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 22nd. Finally, D. Boral Capital restated a "buy" rating and issued a $23.00 price target on shares of Clene in a report on Thursday, March 12th. Four 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.com, the company presently has an average rating of "Moderate Buy" and an average price target of $34.00.

Hedge Funds Weigh In On Clene

A number of large investors have recently bought and sold shares of the business. Lunt Capital Management Inc. raised its stake in 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. Jones Financial Companies Lllp bought a new position in Clene in the third quarter worth approximately $29,000. Geode Capital Management LLC increased 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 worth $482,000 after purchasing an additional 6,090 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Clene during the second quarter worth $47,000. Finally, State Street Corp increased 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 purchasing an additional 17,300 shares in the last quarter. Institutional investors own 23.28% of the company's stock.

Clene Company Profile

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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