Clearside Biomedical (NASDAQ:CLSD) Shares Cross Below Fifty Day Moving Average – Time to Sell?

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $4.14 and traded as low as $3.66. Clearside Biomedical shares last traded at $3.80, with a volume of 31,429 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CLSD shares. Jones Trading downgraded shares of Clearside Biomedical from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 17th. Chardan Capital lowered Clearside Biomedical from a “buy” rating to a “neutral” rating in a research report on Friday, July 18th. Stifel Nicolaus cut shares of Clearside Biomedical from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Friday, July 18th. Wall Street Zen upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, HC Wainwright downgraded shares of Clearside Biomedical from a “buy” rating to a “neutral” rating and set a $75.00 price target for the company. in a report on Friday, July 18th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.00.

Clearside Biomedical Price Performance

The stock has a market cap of $20.03 million, a P/E ratio of -0.69 and a beta of 2.04. The company has a fifty day moving average of $4.14 and a 200 day moving average of $8.05.

Institutional Trading of Clearside Biomedical

An institutional investor recently bought a new position in Clearside Biomedical stock. Apollon Wealth Management LLC acquired a new stake in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 23,586 shares of the company’s stock, valued at approximately $94,000. Apollon Wealth Management LLC owned about 0.45% of Clearside Biomedical as of its most recent filing with the Securities and Exchange Commission. 18.75% of the stock is owned by institutional investors and hedge funds.

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.