Clearside Biomedical, Inc. (NASDAQ:CLSD) Short Interest Down 26.5% in February

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the recipient of a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 571,300 shares, a drop of 26.5% from the January 31st total of 777,800 shares. Based on an average daily volume of 246,400 shares, the short-interest ratio is currently 2.3 days.

Clearside Biomedical Stock Performance

Shares of CLSD stock traded up $0.04 during mid-day trading on Wednesday, hitting $0.84. The company’s stock had a trading volume of 168,087 shares, compared to its average volume of 396,364. The stock has a market cap of $63.94 million, a price-to-earnings ratio of -1.87 and a beta of 2.10. Clearside Biomedical has a 52-week low of $0.77 and a 52-week high of $2.12. The business has a 50-day moving average price of $0.96 and a 200 day moving average price of $1.06.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Wednesday, November 13th. Chardan Capital restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Friday, November 15th. Finally, StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. One equities 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, Clearside Biomedical currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.33.

Institutional Trading of Clearside Biomedical

A number of institutional investors have recently made changes to their positions in the stock. Northern Trust Corp grew its holdings in shares of Clearside Biomedical by 24.0% in the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after acquiring an additional 32,048 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Clearside Biomedical by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock worth $726,000 after buying an additional 32,672 shares during the last quarter. Investor s Fiduciary Advisor Network LLC bought a new stake in Clearside Biomedical during the fourth quarter valued at approximately $32,000. Finally, Johnson & Johnson purchased a new stake in Clearside Biomedical during the third quarter valued at approximately $105,000. Hedge funds and other institutional investors own 18.75% of the company’s stock.

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.