Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 73,296 Shares

Key Points

• Major shareholder Chidozie Ugwumba sold 73,296 Clene shares on May 12 at an average price of $6.20, totaling about $454,435. After the sale, Ugwumba still held 103,417 shares, down 41.48% in ownership.
• The sale was part of a string of recent insider transactions, with Ugwumba also selling multiple blocks of Clene stock in late April and early May, according to SEC filings.
• Clene shares were flat at $6.50 on Wednesday, while the company reported a wider-than-expected quarterly loss and revenue of just $0.08 million; analysts currently rate the stock a “Moderate Buy” with an average target price of $33.25.

Clene Inc. (NASDAQ:CLNN - Get Free Report) major shareholder Chidozie Ugwumba sold 73,296 shares of Clene stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $6.20, for a total value of $454,435.20. Following the completion of the transaction, the insider directly owned 103,417 shares in the company, valued at approximately $641,185.40. This represents a 41.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, May 11th, Chidozie Ugwumba sold 22,177 shares of Clene stock. The stock was sold at an average price of $6.75, for a total transaction of $149,694.75.
• On Monday, May 4th, Chidozie Ugwumba sold 72,884 shares of Clene stock. The shares were sold at an average price of $6.80, for a total value of $495,611.20.
• 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 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 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 transaction 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 transaction 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.

Clene Stock Performance

NASDAQ CLNN remained flat at $6.50 on Wednesday. 161,002 shares of the company traded hands, compared to its average volume of 363,673. The firm's fifty day simple moving average is $5.91 and its 200 day simple moving average is $6.41. The company has a market cap of $76.57 million, a P/E ratio of -2.50 and a beta of 0.89. Clene Inc. has a 1-year low of $2.28 and a 1-year high of $13.50.

Clene (NASDAQ:CLNN - Get Free Report) last announced its quarterly earnings data on Thursday, March 12th. The company reported ($0.88) EPS 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 analysts' expectations of $0.03 million. On average, analysts expect that Clene Inc. will post -1.99 EPS for the current fiscal year.

Hedge Funds Weigh In On Clene

Large investors have recently added to or reduced their stakes in the company. SymBiosis Capital Partners LLC acquired a new stake in shares of Clene in the 4th quarter valued at about $4,523,000. Scoggin Management LP boosted its position in shares of Clene by 75.1% during the third quarter. Scoggin Management LP now owns 250,000 shares of the company's stock worth $1,506,000 after buying an additional 107,250 shares during the period. Ensign Peak Advisors Inc grew its holdings in shares of Clene by 668.6% during the fourth quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company's stock worth $671,000 after buying an additional 99,481 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 buying an additional 6,090 shares in the last quarter. Finally, Lunt Capital Management Inc. raised its position in Clene by 2.5% in the 3rd quarter. Lunt Capital Management Inc. now owns 52,260 shares of the company's stock valued at $315,000 after buying an additional 1,250 shares during the last quarter. Institutional investors own 23.28% of the company's stock.

Analyst Ratings Changes

CLNN has been the topic of several recent research reports. Canaccord Genuity Group restated a "buy" rating and issued a $48.00 price target on shares of Clene in a research report on Friday, March 13th. HC Wainwright reiterated a "buy" rating and issued a $31.00 price objective on shares of Clene in a 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 note on Monday, May 4th. Finally, Weiss Ratings upgraded Clene from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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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