Clearside Biomedical, Inc. (NASDAQ:CLSD) Sees Significant Decline in Short Interest

Clearside Biomedical, Inc. (NASDAQ:CLSD) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 1,760,000 shares, a decline of 9.7% from the October 15th total of 1,950,000 shares. Based on an average daily trading volume, of 735,800 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Ratings Changes

CLSD has been the subject of several recent research reports. StockNews.com raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Wednesday. Finally, Chardan Capital restated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Friday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Clearside Biomedical currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.33.

Clearside Biomedical Stock Performance

Shares of NASDAQ CLSD traded down $0.06 during mid-day trading on Friday, hitting $0.99. The stock had a trading volume of 435,642 shares, compared to its average volume of 416,231. Clearside Biomedical has a twelve month low of $0.90 and a twelve month high of $2.12. The firm has a market cap of $75.08 million, a PE ratio of -2.20 and a beta of 2.33. The company has a 50 day moving average of $1.19 and a two-hundred day moving average of $1.19.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. The firm had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the prior year, the business posted ($0.15) EPS. Equities research analysts predict that Clearside Biomedical will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 36,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $1.00 per share, with a total value of $36,500.00. Following the completion of the purchase, the insider now directly owns 100,000 shares of the company’s stock, valued at $100,000. The trade was a 57.48 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 9.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Clearside Biomedical

Several institutional investors have recently bought and sold shares of CLSD. Vanguard Group Inc. raised its holdings in shares of Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after acquiring an additional 314,480 shares during the period. Geode Capital Management LLC increased its holdings in Clearside Biomedical by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after purchasing an additional 59,089 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Clearside Biomedical by 6.6% during the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after buying an additional 35,900 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical in the second quarter valued at $368,000. Finally, Johnson & Johnson purchased a new stake in shares of Clearside Biomedical in the 3rd quarter valued at $105,000. 18.75% of the stock is currently owned by institutional investors and hedge funds.

About Clearside Biomedical

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.