Clearside Biomedical, Inc. (NASDAQ:CLSD) Short Interest Down 13.6% in November

Clearside Biomedical, Inc. (NASDAQ:CLSD) saw a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,520,000 shares, a decline of 13.6% from the October 31st total of 1,760,000 shares. Based on an average daily trading volume, of 750,800 shares, the short-interest ratio is currently 2.0 days.

Clearside Biomedical Stock Performance

Shares of CLSD stock opened at $1.09 on Tuesday. Clearside Biomedical has a fifty-two week low of $0.92 and a fifty-two week high of $2.12. The firm has a market capitalization of $82.67 million, a price-to-earnings ratio of -2.42 and a beta of 2.33. The stock’s 50-day simple moving average is $1.15 and its 200-day simple moving average is $1.17.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same period in the prior year, the business posted ($0.15) EPS. As a group, equities analysts forecast that Clearside Biomedical will post -0.48 earnings per share for the current year.

Analyst Ratings Changes

CLSD has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Wednesday, November 13th. StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday, November 14th. Finally, Chardan Capital reissued a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research report on Friday, November 15th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.33.

Insider Buying and Selling at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong purchased 36,500 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the purchase, the insider now owns 100,000 shares in the company, valued at approximately $100,000. This represents a 57.48 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 9.20% of the stock is owned by corporate insiders.

Institutional Trading of Clearside Biomedical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLSD. XTX Topco Ltd lifted its holdings in shares of Clearside Biomedical by 172.2% in the 2nd 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 raised its stake in 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 purchasing an additional 35,900 shares during the period. Geode Capital Management LLC lifted its holdings in Clearside Biomedical by 8.8% in the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after acquiring an additional 59,089 shares during the last quarter. Johnson & Johnson purchased a new position in shares of Clearside Biomedical during the 3rd quarter worth $105,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical during the second quarter valued at about $368,000. Institutional investors and hedge funds own 18.75% of the company’s stock.

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.