By otakuyassine3@gmail.com 
Clearside Biomedical, Inc. (NASDAQ:CLSD – Get Free Report) was the recipient of a large decrease in short interest in November. As of November 30th, there was short interest totalling 1,340,000 shares, a decrease 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 days-to-cover ratio is presently 1.8 days.
Clearside Biomedical Price Performance
Shares of CLSD stock traded up $0.01 during mid-day trading on Tuesday, hitting $1.02. The stock had a trading volume of 171,135 shares, compared to its average volume of 386,673. Clearside Biomedical has a 12-month low of $0.92 and a 12-month high of $2.12. The firm’s 50-day moving average is $1.10 and its two-hundred day moving average is $1.14. The firm has a market capitalization of $77.36 million, a P/E ratio of -2.24 and a beta of 2.29.
Clearside Biomedical (NASDAQ:CLSD – Get Free Report) last issued its quarterly earnings data 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 analysts’ expectations of $0.25 million. During the same period in the previous year, the firm earned ($0.15) EPS. Analysts expect that Clearside Biomedical will post -0.48 EPS for the current year.
Insider Activity
In other news, insider Ngai Hang Victor Chong acquired 36,500 shares of the company’s stock in a transaction on Friday, November 1st. The stock was bought at an average cost of $1.00 per share, with a total value of $36,500.00. Following the completion of the purchase, the insider now directly owns 100,000 shares of the company’s stock, valued at $100,000. This represents a 57.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.20% of the company’s stock.
Institutional Investors Weigh In On Clearside Biomedical
A number of large investors have recently modified their holdings of CLSD. Assenagon Asset Management S.A. purchased a new stake in Clearside Biomedical in the second quarter valued at approximately $368,000. Vanguard Group Inc. raised its stake in shares of Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after buying an additional 314,480 shares during the last quarter. 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 boosted 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 buying an additional 35,900 shares during the last quarter. Finally, Johnson & Johnson acquired a new stake in Clearside Biomedical during the third quarter worth about $105,000. Hedge funds and other institutional investors own 18.75% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Thursday, November 14th. StockNews.com raised 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 price objective on shares of Clearside Biomedical in a research report on Wednesday, November 13th. Finally, Chardan Capital reiterated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Clearside Biomedical presently has an average rating of “Moderate Buy” and an average target price of $5.33.
View Our Latest Stock Analysis on CLSD
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.
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