Key Points
- Major shareholder Chidozie Ugwumba sold 4,367 Clene shares on Dec. 22 at $6.54, leaving him with 383,201 shares valued at roughly $2.51 million.
- Ugwumba executed a series of December sales totaling about $957,000 (including a 56,577-share sale on Dec. 3), indicating substantial insider selling during the month.
- Clene is trading down amid weak quarterly results (EPS -$0.85 vs. -$0.60 expected) and a revenue miss; the company has a market cap of about $64.7M and a consensus analyst rating of Moderate Buy with a $32.60 target.
Clene Inc. (NASDAQ:CLNN - Get Free Report) major shareholder Chidozie Ugwumba sold 4,367 shares of the business's stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $6.54, for a total value of $28,560.18. Following the transaction, the insider owned 383,201 shares in the company, valued at approximately $2,506,134.54. This represents a 1.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% 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, December 19th, Chidozie Ugwumba sold 5,582 shares of Clene stock. The shares were sold at an average price of $6.45, for a total value of $36,003.90.
- 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 value of $36,815.28.
- On Wednesday, December 17th, Chidozie Ugwumba sold 2,884 shares of Clene stock. The shares were sold at an average price of $6.61, for a total transaction of $19,063.24.
- On Tuesday, December 16th, Chidozie Ugwumba sold 7,030 shares of Clene stock. The stock was 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 value 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 value of $51,624.37.
- On Thursday, December 11th, Chidozie Ugwumba sold 10,907 shares of Clene stock. The stock was 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 value 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 value of $89,434.45.
Clene Trading Down 2.8%
CLNN stock opened at $6.26 on Wednesday. The stock's 50 day simple moving average is $8.43 and its 200 day simple moving average is $6.27. Clene Inc. has a 12-month low of $2.28 and a 12-month high of $13.50. The firm has a market cap of $64.67 million, a P/E ratio of -1.85 and a beta of 0.79.
Clene (NASDAQ:CLNN - Get Free Report) last issued its 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 for the quarter, compared to the consensus estimate of $0.06 million. On average, research analysts forecast that Clene Inc. will post -5.19 EPS for the current fiscal year.
Institutional Trading of Clene
A number of institutional investors have recently made changes to their positions in CLNN. Lunt Capital Management Inc. increased its stake in shares of Clene by 71.2% during the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company's stock valued at $199,000 after acquiring an additional 21,217 shares during the period. Jones Financial Companies Lllp bought a new position in Clene during the 3rd quarter valued at $29,000. Scoggin Management LP increased its position in shares of Clene by 75.1% during the 3rd quarter. Scoggin Management LP now owns 250,000 shares of the company's stock valued at $1,506,000 after purchasing an additional 107,250 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of Clene in the 2nd quarter worth $47,000. 23.28% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
CLNN has been the topic of several recent research reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Clene in a report on Tuesday, October 14th. D. Boral Capital reaffirmed a "buy" rating and issued a $23.00 target price on shares of Clene in a research report on Wednesday, December 10th. UBS Group reissued a "buy" rating on shares of Clene in a report on Wednesday, December 3rd. Finally, Benchmark reaffirmed a "buy" rating on shares of Clene in a report on Thursday, December 4th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.60.
Read Our Latest Research Report on CLNN
Clene Company Profile
(
Get Free Report)
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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