Clearside Biomedical (NASDAQ:CLSD) Downgraded to Sell Rating by StockNews.com

StockNews.com cut shares of Clearside Biomedical (NASDAQ:CLSD) from a hold rating to a sell rating in a report issued on Tuesday.

Other research analysts also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, March 6th. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, March 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.75.

Clearside Biomedical Trading Up 9.0 %

Shares of NASDAQ:CLSD opened at $0.97 on Tuesday. The stock has a market capitalization of $73.57 million, a PE ratio of -2.16 and a beta of 2.10. Clearside Biomedical has a 1 year low of $0.77 and a 1 year high of $1.80. The firm has a fifty day moving average price of $0.95 and a 200 day moving average price of $1.05.

Institutional Trading of Clearside Biomedical

A number of hedge funds have recently bought and sold shares of the stock. Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Clearside Biomedical during the fourth quarter valued at about $32,000. Johnson & Johnson bought a new stake in shares of Clearside Biomedical during the third quarter valued at approximately $105,000. Northern Trust Corp raised its stake 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 valued at $157,000 after purchasing an additional 32,048 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Clearside Biomedical by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock valued at $726,000 after buying an additional 32,672 shares in the last quarter. 18.75% of the stock is owned by institutional investors.

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.