Clearside Biomedical, Inc. (NASDAQ:CLSD) Short Interest Update

Clearside Biomedical, Inc. (NASDAQ:CLSD) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 1,340,000 shares, a drop of 11.8% from the November 15th total of 1,520,000 shares. Based on an average daily trading volume, of 726,200 shares, the short-interest ratio is currently 1.8 days.

Analyst Upgrades and Downgrades

A number of analysts have commented on CLSD shares. Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Wednesday, November 13th. Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Friday, November 15th. StockNews.com raised Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Clearside Biomedical presently has an average rating of “Moderate Buy” and a consensus target price of $5.33.

Insider Activity

In other news, insider Ngai Hang Victor Chong purchased 36,500 shares of the firm’s stock in a transaction dated 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 acquisition, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $100,000. This represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On Clearside Biomedical

Several hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in shares of Clearside Biomedical during the 2nd quarter worth $368,000. Vanguard Group Inc. grew its holdings in Clearside Biomedical by 14.5% during the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after purchasing an additional 314,480 shares during the period. XTX Topco Ltd raised its stake in shares of Clearside Biomedical by 172.2% in the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after buying an additional 34,359 shares during the period. Renaissance Technologies LLC lifted its position in shares of Clearside Biomedical by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after buying an additional 35,900 shares during the last quarter. Finally, Johnson & Johnson purchased a new stake in Clearside Biomedical in the 3rd quarter worth about $105,000. Institutional investors own 18.75% of the company’s stock.

Clearside Biomedical Stock Down 1.0 %

CLSD traded down $0.01 during midday trading on Monday, hitting $1.01. The company had a trading volume of 286,675 shares, compared to its average volume of 387,495. Clearside Biomedical has a 52 week low of $0.92 and a 52 week high of $2.12. The company has a market capitalization of $76.60 million, a price-to-earnings ratio of -2.29 and a beta of 2.29. The stock’s 50 day moving average price is $1.11 and its 200 day moving average price is $1.15.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.04. The business had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the previous year, the company posted ($0.15) EPS. Research analysts predict that Clearside Biomedical will post -0.48 EPS for the current year.

Clearside Biomedical Company Profile

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.