Short Interest in Clearside Biomedical, Inc. (NASDAQ:CLSD) Drops By 9.7%

Clearside Biomedical, Inc. (NASDAQ:CLSD) saw a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 1,760,000 shares, a decline of 9.7% from the October 15th total of 1,950,000 shares. Based on an average daily volume of 735,800 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, insider Ngai Hang Victor Chong bought 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 acquisition, the insider now owns 100,000 shares in the company, valued at approximately $100,000. This represents a 57.48 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clearside Biomedical

Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Clearside Biomedical during the 1st quarter valued at $49,000. XTX Topco Ltd grew its holdings in shares of Clearside Biomedical by 172.2% during the second 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 in the last quarter. Johnson & Johnson acquired a new position in Clearside Biomedical during the third quarter valued at $105,000. Assenagon Asset Management S.A. purchased a new stake in Clearside Biomedical in the 2nd quarter worth about $368,000. Finally, Renaissance Technologies LLC lifted 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 in the last quarter. 18.75% of the stock is currently owned by institutional investors and hedge funds.

Clearside Biomedical Stock Performance

NASDAQ CLSD opened at $1.02 on Tuesday. The company has a 50-day moving average price of $1.19 and a two-hundred day moving average price of $1.19. Clearside Biomedical has a 52 week low of $0.92 and a 52 week high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million for the quarter, compared to the consensus estimate of $0.25 million. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. Equities research analysts expect that Clearside Biomedical will post -0.51 earnings per share for the current fiscal year.

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.