Key Points
- Clene major shareholder Chidozie Ugwumba sold 73,296 shares on May 12 at an average price of $6.20, totaling about $454,435. The sale reduced the insider’s stake by 41.48%, leaving 103,417 shares.
- Ugwumba has been actively selling Clene stock in recent weeks, with multiple transactions in April and May that also involved sizable share counts and proceeds. The repeated sales suggest ongoing insider distribution rather than a one-time trade.
- Despite the insider selling, Wall Street remains broadly bullish on CLNN, with five analysts rating it a Buy and a consensus price target of $33.25. The stock recently traded around $6.50, while the company also posted a narrower-than-expected loss in its latest quarterly report.
Clene Inc. (NASDAQ:CLNN - Get Free Report) major shareholder Chidozie Ugwumba sold 22,177 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $6.75, for a total transaction of $149,694.75. Following the completion of the transaction, the insider owned 176,713 shares in the company, valued at approximately $1,192,812.75. The trade was a 11.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% 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 Tuesday, May 12th, Chidozie Ugwumba sold 73,296 shares of Clene stock. The shares were sold at an average price of $6.20, for a total transaction of $454,435.20.
- 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 transaction 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 transaction 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 shares were 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 shares were sold at an average price of $5.90, for a total transaction 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 transaction 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 transaction of $49,587.20.
Clene Stock Performance
Shares of NASDAQ CLNN opened at $6.50 on Thursday. The firm's 50-day moving average price is $5.94 and its 200-day moving average price is $6.39. Clene Inc. has a 1-year low of $2.28 and a 1-year high of $13.50. The firm has a market capitalization of $76.57 million, a P/E ratio of -2.50 and a beta of 0.89.
Clene (NASDAQ:CLNN - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.05). The firm had revenue of $0.02 million for the quarter, compared to analysts' expectations of $0.05 million. Equities research analysts forecast that Clene Inc. will post -1.99 EPS for the current year.
Institutional Investors Weigh In On Clene
A number of institutional investors and hedge funds have recently made changes to their positions in CLNN. SymBiosis Capital Partners LLC acquired a new stake in shares of Clene in the 4th quarter worth about $4,523,000. Scoggin Management LP grew its position in Clene by 75.1% in the 3rd 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. Ensign Peak Advisors Inc grew its position in Clene by 668.6% in the 4th quarter. Ensign Peak Advisors Inc now owns 114,361 shares of the company's stock worth $671,000 after purchasing an additional 99,481 shares in the last quarter. PEAK6 LLC bought a new stake in Clene in the 4th quarter worth about $294,000. Finally, State Street Corp grew its position in Clene by 138.4% in the 4th quarter. State Street Corp now owns 29,801 shares of the company's stock worth $175,000 after purchasing an additional 17,300 shares in the last quarter. Institutional investors and hedge funds own 23.28% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on CLNN. HC Wainwright reiterated a "buy" rating and set a $31.00 price objective on shares of Clene in a report on Monday, May 4th. D. Boral Capital reiterated a "buy" rating and set a $23.00 price objective on shares of Clene in a report on Monday, May 4th. Canaccord Genuity Group reiterated a "buy" rating and set a $48.00 price objective on shares of Clene in a report on Friday, March 13th. Finally, Weiss Ratings upgraded shares of Clene from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, May 8th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $33.25.
View Our Latest Report on CLNN
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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