Clearside Biomedical (NASDAQ:CLSD) Rating Lowered to Sell at StockNews.com

Clearside Biomedical (NASDAQ:CLSD) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Wednesday, November 13th. Chardan Capital reiterated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Friday, November 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Clearside Biomedical presently has an average rating of “Moderate Buy” and an average price target of $5.33.

Clearside Biomedical Stock Performance

Shares of CLSD opened at $1.04 on Wednesday. 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 $78.87 million, a PE ratio of -2.31 and a beta of 2.29. The company’s 50 day moving average price is $1.14 and its 200 day moving average price is $1.16.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share 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 analyst estimates of $0.25 million. During the same period last year, the company posted ($0.15) earnings per share. On average, equities analysts forecast that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Insider Transactions at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong acquired 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 transaction, the insider now directly owns 100,000 shares in the company, valued at approximately $100,000. The trade was a 57.48 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.20% of the stock is owned by insiders.

Institutional Trading of Clearside Biomedical

A number of hedge funds have recently made changes to their positions in CLSD. XTX Topco Ltd grew 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 acquiring an additional 34,359 shares in the last quarter. Johnson & Johnson bought a new position in Clearside Biomedical in the third quarter valued at about $105,000. Assenagon Asset Management S.A. acquired a new stake in Clearside Biomedical during the 2nd quarter worth approximately $368,000. Renaissance Technologies LLC grew its stake in shares of Clearside Biomedical by 6.6% in 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 last quarter. Finally, Geode Capital Management LLC grew its position in shares of 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 buying an additional 59,089 shares during the last quarter. 18.75% of the stock is 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.