Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 72,884 Shares

Key Points

• Chidozie Ugwumba sold 72,884 shares on May 4 at $6.80 (part of multiple April–May sales), leaving him with 198,890 shares and reducing his reported stake by about 26.8%.
• Clene stock dropped about 18.7% to $6.58 on heavy volume (~1.27M shares vs. average 363k), indicating strong market selling pressure.
• Regulatory and financing update: FDA engagement supports an accelerated approval pathway for CNM‑Au8 with an NDA targeted for Q3 2026, while a newly priced $7M offering at $7.00 raises cash but increases share dilution.

Clene Inc. (NASDAQ:CLNN - Get Free Report) major shareholder Chidozie Ugwumba sold 72,884 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $6.80, for a total value of $495,611.20. Following the completion of the sale, the insider owned 198,890 shares of the company's stock, valued at approximately $1,352,452. This represents a 26.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Chidozie Ugwumba also recently made the following trade(s):

• On Friday, May 1st, Chidozie Ugwumba sold 5,795 shares of Clene stock. The shares were sold at an average price of $6.01, for a total value of $34,827.95.
• 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 Wednesday, April 29th, Chidozie Ugwumba sold 12,170 shares of Clene stock. The shares were sold at an average price of $5.63, for a total value of $68,517.10.
• On Tuesday, April 28th, Chidozie Ugwumba sold 1,591 shares of Clene stock. The shares were 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 shares were 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 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 shares were sold at an average price of $4.81, for a total value of $119,889.25.

Clene Stock Down 18.7%

Shares of Clene stock traded down $1.51 during trading hours on Tuesday, hitting $6.58. 1,272,452 shares of the company's stock traded hands, compared to its average volume of 363,617. The stock has a 50 day simple moving average of $5.68 and a 200-day simple moving average of $6.47. The company has a market cap of $77.51 million, a PE ratio of -2.53 and a beta of 0.89. Clene Inc. has a twelve month low of $2.28 and a twelve month high of $13.50.

Clene (NASDAQ:CLNN - Get Free Report) last announced 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 during the quarter, compared to the consensus estimate of $0.03 million. As a group, equities research analysts predict that Clene Inc. will post -1.99 EPS for the current year.

Key Clene News

Here are the key news stories impacting Clene this week:

• Positive Sentiment: FDA engagement supports accelerated approval pathway for CNM‑Au8, improving the drug’s regulatory outlook and potentially shortening time to market; company expects to file an NDA in Q3 2026. After Successful FDA Meeting — Clene Filing Accelerated Approval NDA for ALS
• Positive Sentiment: Wall Street coverage remains constructive — recent buy ratings and price targets were reaffirmed (HC Wainwright and D. Boral Capital), supporting upside expectations if clinical/regulatory progress continues. Benzinga coverage
• Neutral Sentiment: Management will present at investor conferences in early May, which may provide additional updates/clarity but are unlikely on their own to drive a material re‑rating. Clene to Present at Upcoming May Conferences
• Negative Sentiment: Clene priced a registered direct offering of 1,000,000 shares at $7.00 to raise roughly $7M to fund NDA preparation, trials and R&D. While proceeds reduce short‑term cash risk and fund key milestones, the transaction increases share count and is a dilution catalyst that often pressures the stock. Clene Announces $7 Million Underwritten Offering of Common Stock
• Negative Sentiment: Major shareholder Chidozie Ugwumba disclosed recent open‑market sales (large blocks on May 1 and May 4), materially reducing his reported stake — insider selling at current levels can signal liquidity needs or trigger investor concern about near‑term outlook. SEC filing: SEC Insider Trading Filing

Hedge Funds Weigh In On Clene

A number of hedge funds have recently bought and sold shares of the company. PEAK6 LLC acquired a new position in Clene in the fourth quarter worth about $294,000. State Street Corp grew its stake in 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 in the last quarter. Ensign Peak Advisors Inc grew its stake in Clene by 668.6% in the fourth quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company's stock worth $671,000 after purchasing an additional 99,481 shares in the last quarter. SymBiosis Capital Partners LLC acquired a new position in Clene in the fourth quarter worth about $4,523,000. Finally, Geode Capital Management LLC lifted its holdings in Clene by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 82,079 shares of the company's stock worth $482,000 after acquiring an additional 6,090 shares during the last quarter. 23.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CLNN has been the subject of several recent analyst reports. Weiss Ratings downgraded Clene from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, April 22nd. Canaccord Genuity Group restated a "buy" rating and set a $48.00 target price on shares of Clene in a research note on Friday, March 13th. HC Wainwright reiterated a "buy" rating and issued a $31.00 price target on shares of Clene in a research note on Monday. Finally, D. Boral Capital reiterated a "buy" rating and issued a $23.00 price target on shares of Clene in a research note on Monday. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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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