Geode Capital Management LLC Buys 59,089 Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD)

Geode Capital Management LLC grew its stake in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) by 8.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 731,386 shares of the company’s stock after acquiring an additional 59,089 shares during the quarter. Geode Capital Management LLC owned about 0.96% of Clearside Biomedical worth $929,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Johnson & Johnson acquired a new stake in shares of Clearside Biomedical during the 3rd quarter worth approximately $105,000. XTX Topco Ltd lifted its stake in Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after purchasing an additional 34,359 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Clearside Biomedical by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after purchasing an additional 35,900 shares in the last quarter. 18.75% of the stock is owned by institutional investors and hedge funds.

Clearside Biomedical Stock Up 0.7 %

NASDAQ CLSD opened at $0.98 on Friday. The company has a market capitalization of $74.33 million, a price-to-earnings ratio of -2.18 and a beta of 2.20. Clearside Biomedical, Inc. has a twelve month low of $0.80 and a twelve month high of $2.12. The stock has a fifty day simple moving average of $1.02 and a 200 day simple moving average of $1.11.

Clearside Biomedical (NASDAQ:CLSD) last issued 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 firm had revenue of $1.04 million during the quarter, compared to analyst estimates of $0.25 million. During the same quarter last year, the firm posted ($0.15) EPS. Research analysts expect that Clearside Biomedical, Inc. will post -0.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday, November 14th. StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Wednesday, November 13th. Finally, Chardan Capital reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Clearside Biomedical presently has an average rating of “Moderate Buy” and an average target price of $5.33.

Insider Buying and Selling at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong bought 36,500 shares of the stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the acquisition, the insider now owns 100,000 shares in the company, valued at $100,000. This trade represents a 57.48 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 9.20% 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.