Key Points
- Major shareholder Chidozie Ugwumba sold 56,577 shares on Dec. 3 at an average $7.86 (≈$444,695) and executed multiple additional sales from Dec. 5–18, cutting his stake by 8.69% to 594,368 shares.
- Clene shares opened at $6.04 and were down 7.4%, with a market cap of about $62.4M; the company missed on its latest quarter (EPS -$0.85 vs. -$0.60 estimate) and reported negligible revenue.
- Clene is a clinical-stage biopharma developing CNM-Au8 for neurodegenerative diseases (ALS, Parkinson’s, MS), and analysts maintain a mixed but overall optimistic view (average rating "Moderate Buy" and average price target $32.60).
Clene Inc. (NASDAQ:CLNN - Get Free Report) major shareholder Chidozie Ugwumba sold 2,884 shares of Clene stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $6.61, for a total value of $19,063.24. Following the sale, the insider directly owned 398,966 shares in the company, valued at $2,637,165.26. The trade was a 0.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more 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, December 3rd, Chidozie Ugwumba sold 56,577 shares of Clene stock. The shares were sold at an average price of $7.86, for a total value of $444,695.22.
- On Thursday, December 18th, Chidozie Ugwumba sold 5,816 shares of Clene stock. The stock was sold at an average price of $6.33, for a total transaction of $36,815.28.
- On Tuesday, December 16th, Chidozie Ugwumba sold 7,030 shares of Clene stock. The shares were sold at an average price of $6.31, for a total transaction of $44,359.30.
- On Monday, December 15th, Chidozie Ugwumba sold 10,580 shares of Clene stock. The shares were sold at an average price of $6.49, for a total transaction of $68,664.20.
- On Friday, December 12th, Chidozie Ugwumba sold 7,603 shares of Clene stock. The stock was sold at an average price of $6.79, for a total transaction of $51,624.37.
- On Thursday, December 11th, Chidozie Ugwumba sold 10,907 shares of Clene stock. The shares were sold at an average price of $6.81, for a total transaction of $74,276.67.
- On Wednesday, December 10th, Chidozie Ugwumba sold 9,921 shares of Clene stock. The shares were sold at an average price of $6.42, for a total transaction of $63,692.82.
- On Tuesday, December 9th, Chidozie Ugwumba sold 15,031 shares of Clene stock. The stock was sold at an average price of $5.95, for a total transaction of $89,434.45.
- On Monday, December 8th, Chidozie Ugwumba sold 21,463 shares of Clene stock. The shares were sold at an average price of $5.70, for a total value of $122,339.10.
- On Friday, December 5th, Chidozie Ugwumba sold 37,235 shares of Clene stock. The shares were sold at an average price of $5.94, for a total value of $221,175.90.
Clene Trading Down 7.4%
Shares of CLNN opened at $6.04 on Friday. The stock has a market cap of $62.42 million, a PE ratio of -1.78 and a beta of 0.79. Clene Inc. has a 1 year low of $2.28 and a 1 year high of $13.50. The stock has a 50 day simple moving average of $8.55 and a 200-day simple moving average of $6.20.
Clene (NASDAQ:CLNN - Get Free Report) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($0.85) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.25). The business had revenue of $0.02 million during the quarter, compared to analysts' expectations of $0.06 million. On average, sell-side analysts forecast that Clene Inc. will post -5.19 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
CLNN has been the subject of several analyst reports. Benchmark reissued a "buy" rating on shares of Clene in a report on Thursday, December 4th. UBS Group reaffirmed a "buy" rating on shares of Clene in a report on Wednesday, December 3rd. D. Boral Capital reiterated a "buy" rating and issued a $23.00 target price on shares of Clene in a research note on Wednesday, December 10th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Clene in a research report on Tuesday, October 14th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $32.60.
Check Out Our Latest Stock Report on CLNN
Hedge Funds Weigh In On Clene
A number of large investors have recently modified their holdings of the stock. Scoggin Management LP lifted 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 purchasing an additional 107,250 shares in the last quarter. 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 worth $315,000 after purchasing an additional 1,250 shares during the last quarter. Jones Financial Companies Lllp bought a new position in Clene in the 3rd quarter worth approximately $29,000. Finally, Jane Street Group LLC acquired a new position in Clene during the 2nd quarter worth $47,000. 23.28% of the stock is currently owned by institutional investors and hedge funds.
About Clene
(
Get Free Report)
Clene Inc, a clinical-stage pharmaceutical company, focuses on the discovery, development, and commercialization of novel clean-surfaced nanotechnology (CSN) therapeutics. Its lead drug candidate is CNM-Au8, which is being studied in various clinical trials, including a completed Phase 2 platform trial to evaluate the safety and efficacy of CNM-Au8 in patients with amyotrophic lateral sclerosis (ALS); completed Phase 2 proof of concept clinical trial in patients with early symptomatic ALS; completed two open-label investigator blinded Phase 2 clinical trials on the brain's energy metabolites; completed Phase 2 clinical trial for the treatment of visual pathway deficits in chronic optic neuropathy for remyelination in stable relapsing Multiple Sclerosis; and a second Phase 2 clinical trial for the treatment of patients with Parkinson's Diseases.
Further Reading
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