Clene Inc. (NASDAQ:CLNN - Get Free Report) major shareholder Chidozie Ugwumba sold 5,795 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $6.01, for a total value of $34,827.95. Following the completion of the sale, the insider owned 271,774 shares of the company's stock, valued at $1,633,361.74. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company's stock 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 shares were 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 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 Trading Down 18.7%
Shares of NASDAQ CLNN opened at $6.58 on Wednesday. Clene Inc. has a twelve month low of $2.28 and a twelve month high of $13.50. The company has a market capitalization of $77.51 million, a price-to-earnings ratio of -2.53 and a beta of 0.89. The business has a 50 day simple moving average of $5.72 and a 200-day simple moving average of $6.45.
Clene (NASDAQ:CLNN - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $0.03 million. As a group, equities analysts predict that Clene Inc. will post -1.99 earnings per share for the current year.
Hedge Funds Weigh In On Clene
Hedge funds have recently modified their holdings of the company. SymBiosis Capital Partners LLC acquired a new position in shares of Clene during the 4th quarter valued at $4,523,000. 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. Ensign Peak Advisors Inc increased its position in shares of Clene by 668.6% during the 4th quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company's stock valued at $671,000 after purchasing an additional 99,481 shares during the period. Geode Capital Management LLC increased its position in shares of Clene by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 82,079 shares of the company's stock valued at $482,000 after purchasing an additional 6,090 shares during the period. Finally, PEAK6 LLC acquired a new position in shares of Clene during the 4th quarter valued at $294,000. 23.28% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on CLNN shares. Weiss Ratings lowered Clene from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 22nd. Canaccord Genuity Group restated a "buy" rating and set a $48.00 price objective on shares of Clene in a research report on Friday, March 13th. D. Boral Capital restated a "buy" rating and set a $23.00 price objective on shares of Clene in a research report on Monday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $31.00 target price on shares of Clene in a research note on Monday. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $33.25.
Check Out Our Latest Stock Analysis on CLNN
Key Clene News
Here are the key news stories impacting Clene this week:
- Positive Sentiment: FDA signaled the company may be able to pursue accelerated approval for CNM‑Au8 based on neurofilament light (NfL) biomarker data — Clene expects to file an NDA in Q3 2026. This materially improves the regulatory pathway and the potential near‑term value of CNM‑Au8. FDA meeting / accelerated approval release
- Positive Sentiment: Sell‑side support: HC Wainwright and D. Boral Capital recently reaffirmed/issued buy ratings with multi‑fold price targets, underscoring bullish analyst expectations if clinical/regulatory progress continues. Analyst coverage (Benzinga)
- Neutral Sentiment: Investor outreach: Clene will present at May investor conferences (Emerging Growth Conference on May 6), which may provide additional updates but are not expected to change fundamentals immediately. Conference presentation announcement
- Negative Sentiment: Equity raise: Clene priced a registered direct offering of 1,000,000 shares at $7.00/share to raise ~ $7M to fund NDA preparation, trials, manufacturing and R&D. While proceeds reduce near‑term cash risk, the offering increases share supply and signals reliance on external capital. Offering press release
- Negative Sentiment: Insider selling: Major shareholder Chidozie Ugwumba disclosed recent open‑market sales (72,884 shares at $6.80 on May 4 and 5,795 shares at $6.01 on May 1), reducing their position substantially. Large insider sales can pressure price and raise questions about near‑term sentiment from a top holder. SEC filing — insider transactions
About Clene
(
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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