Clene (NASDAQ:CLNN) Major Shareholder Chidozie Ugwumba Sells 9,921 Shares

by · The Markets Daily

Clene Inc. (NASDAQ:CLNN – Get Free Report) major shareholder Chidozie Ugwumba sold 9,921 shares of Clene stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $6.42, for a total transaction of $63,692.82. Following the completion of the transaction, the insider directly owned 437,970 shares in the company, valued at $2,811,767.40. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more 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 Thursday, December 18th, Chidozie Ugwumba sold 5,816 shares of Clene stock. The shares were sold at an average price of $6.33, for a total transaction of $36,815.28.
  • On Wednesday, December 17th, Chidozie Ugwumba sold 2,884 shares of Clene stock. The stock was sold at an average price of $6.61, for a total value 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 value 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 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 value of $74,276.67.
  • On Tuesday, December 9th, Chidozie Ugwumba sold 15,031 shares of Clene stock. The shares were 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 stock was 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 stock was sold at an average price of $5.94, for a total value of $221,175.90.
  • On Thursday, December 4th, Chidozie Ugwumba sold 72,748 shares of Clene stock. The stock was sold at an average price of $6.73, for a total value of $489,594.04.

Clene Price Performance

NASDAQ CLNN traded down $0.48 during mid-day trading on Thursday, hitting $6.04. The company’s stock had a trading volume of 82,450 shares, compared to its average volume of 107,940. The firm has a market capitalization of $62.39 million, a P/E ratio of -1.78 and a beta of 0.79. The stock’s fifty day simple moving average is $8.62 and its two-hundred day simple moving average is $6.20. Clene Inc. has a 52-week low of $2.28 and a 52-week high of $13.50.

Clene (NASDAQ:CLNN – Get Free Report) last announced its earnings results on Thursday, November 13th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.25). The firm had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.06 million. On average, equities analysts forecast that Clene Inc. will post -5.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CLNN. Benchmark reaffirmed a “buy” rating on shares of Clene in a research report on Thursday, December 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Clene in a research report on Tuesday, October 14th. D. Boral Capital restated a “buy” rating and set a $23.00 price objective on shares of Clene in a research report on Wednesday, December 10th. Finally, UBS Group reaffirmed a “buy” rating on shares of Clene in a report on Wednesday, December 3rd. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $32.60.

Get Our Latest Report on Clene

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CLNN. 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 during the last quarter. Lunt Capital Management Inc. lifted its stake in Clene by 71.2% during the second quarter. Lunt Capital Management Inc. now owns 51,010 shares of the company’s stock worth $199,000 after purchasing an additional 21,217 shares during the period. Jane Street Group LLC bought a new position in shares of Clene during the 2nd quarter worth approximately $47,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of Clene in the 3rd quarter valued at $29,000. 23.28% of the stock is currently owned by institutional investors and hedge funds.

Clene Company Profile

(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.

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