Clene (NASDAQ:CLNN) Major Shareholder Sells $34,827.95 in Stock

Key Points

• Chidozie Ugwumba, a major shareholder, has sold roughly 227,926 shares in a series of recent open‑market trades for about $1.42 million, reducing his reported stake to 271,774 shares.
• Clene's stock plunged about 18.7% to $6.58 on heavy volume, following a quarterly EPS miss and amid elevated trading activity that may reflect concern over insider selling and short‑term outlook.
• The company has mixed catalysts: FDA engagement supports an accelerated approval pathway for CNM‑Au8 with an NDA target in Q3 2026, but Clene also priced a 1,000,000‑share registered offering at $7 (≈$7M) that increases dilution and could pressure the stock despite constructive analyst coverage.

Clene Inc. (NASDAQ:CLNN - Get Free Report) major shareholder Chidozie Ugwumba sold 5,795 shares of the business's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $6.01, for a total value of $34,827.95. Following the transaction, the insider directly owned 271,774 shares of the company's stock, valued at approximately $1,633,361.74. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 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 value of $495,611.20.
• 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 value 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 value 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 stock was 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 stock was 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 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 stock was 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%

CLNN traded down $1.51 on Tuesday, reaching $6.58. The company's stock had a trading volume of 1,272,452 shares, compared to its average volume of 363,617. The stock has a 50 day moving average of $5.68 and a two-hundred day moving average of $6.47. The company has a market capitalization of $77.51 million, a price-to-earnings ratio of -2.53 and a beta of 0.89. Clene Inc. has a fifty-two week low of $2.28 and a fifty-two week high of $13.50.

Clene (NASDAQ:CLNN - Get Free Report) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.74) by ($0.14). The company had revenue of $0.08 million during the quarter, compared to analysts' expectations of $0.03 million. As a group, analysts anticipate that Clene Inc. will post -1.99 earnings per share for the current fiscal 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

Institutional Investors Weigh In On Clene

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. PEAK6 LLC purchased a new stake in Clene in the fourth quarter valued at approximately $294,000. State Street Corp lifted its stake in Clene by 138.4% in the fourth quarter. State Street Corp now owns 29,801 shares of the company's stock valued at $175,000 after buying an additional 17,300 shares during the last quarter. Ensign Peak Advisors Inc lifted 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 valued at $671,000 after buying an additional 99,481 shares during the last quarter. SymBiosis Capital Partners LLC purchased a new stake in Clene in the fourth quarter valued at approximately $4,523,000. Finally, Geode Capital Management LLC lifted its stake in Clene by 8.0% in the fourth quarter. Geode Capital Management LLC now owns 82,079 shares of the company's stock valued at $482,000 after buying an additional 6,090 shares during the last quarter. Hedge funds and other institutional investors own 23.28% of the company's stock.

Wall Street Analyst Weigh In

CLNN has been the subject of a number of research analyst reports. Weiss Ratings downgraded Clene from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, April 22nd. D. Boral Capital reaffirmed a "buy" rating and issued a $23.00 price target on shares of Clene in a report on Monday. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $48.00 price target on shares of Clene in a report on Friday, March 13th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $31.00 price target on shares of Clene in a report on Monday. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.25.

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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