Ngai Hang Victor Chong Buys 36,500 Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) Stock

Clearside Biomedical, Inc. (NASDAQ:CLSD) 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 acquisition, the insider now directly owns 100,000 shares in the company, valued at $100,000. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Clearside Biomedical Price Performance

Shares of Clearside Biomedical stock opened at $1.07 on Wednesday. The business has a fifty day simple moving average of $1.18 and a two-hundred day simple moving average of $1.20. Clearside Biomedical, Inc. has a 1 year low of $0.76 and a 1 year high of $2.12. The company has a market capitalization of $79.96 million, a price-to-earnings ratio of -2.14 and a beta of 2.33.

Clearside Biomedical (NASDAQ:CLSD) last posted its earnings results on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the prior year, the business posted ($0.15) EPS. As a group, equities analysts anticipate that Clearside Biomedical, Inc. will post -0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clearside Biomedical

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after purchasing an additional 314,480 shares during the last quarter. Renaissance Technologies LLC increased its position in Clearside Biomedical by 6.6% during the 2nd 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 period. Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical during the second quarter worth $368,000. XTX Topco Ltd boosted its position 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 during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Clearside Biomedical in the first quarter valued at about $49,000. Institutional investors own 18.75% of the company’s stock.

Analysts Set New Price Targets

CLSD has been the subject of a number of analyst reports. Chardan Capital restated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Monday, October 14th. HC Wainwright reissued a “buy” rating and issued a $5.00 target price on shares of Clearside Biomedical in a research note on Tuesday, August 27th. StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Needham & Company LLC lifted their price objective on shares of Clearside Biomedical from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Clearside Biomedical presently has a consensus rating of “Moderate Buy” and an average target price of $5.17.

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.