Clearside Biomedical, Inc. (NASDAQ:CLSD) Short Interest Update

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

Clearside Biomedical Stock Performance

CLSD stock opened at $1.05 on Friday. Clearside Biomedical has a 12 month low of $0.92 and a 12 month high of $2.12. The firm has a 50 day moving average of $1.15 and a 200-day moving average of $1.17.

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 business had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same period in the previous year, the company posted ($0.15) earnings per share. On average, analysts anticipate that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong bought 36,500 shares of Clearside Biomedical stock in a transaction dated 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 acquisition, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 9.20% of the company’s stock.

Institutional Trading of Clearside Biomedical

A number of institutional investors have recently bought and sold shares of CLSD. Vanguard Group Inc. raised its holdings in shares of Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after buying an additional 314,480 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Clearside Biomedical in the 2nd quarter valued at $368,000. Renaissance Technologies LLC raised its stake in Clearside Biomedical by 6.6% in the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after acquiring an additional 35,900 shares during the last quarter. XTX Topco Ltd lifted its position in Clearside Biomedical by 172.2% during the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after acquiring an additional 34,359 shares during the period. Finally, Johnson & Johnson acquired a new stake in Clearside Biomedical during the 3rd quarter worth about $105,000. 18.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on CLSD. Chardan Capital reissued a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Friday, November 15th. StockNews.com raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Clearside Biomedical currently has a consensus rating of “Moderate Buy” and an average price target of $5.33.

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.