Clearside Biomedical, Inc. (NASDAQ:CLSD) Sees Significant Decrease in Short Interest

Clearside Biomedical, Inc. (NASDAQ:CLSD) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 468,900 shares, a drop of 36.3% from the March 15th total of 735,600 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily volume of 204,100 shares, the short-interest ratio is presently 2.3 days.

Hedge Funds Weigh In On Clearside Biomedical

A number of large investors have recently modified their holdings of CLSD. Geode Capital Management LLC raised its holdings in Clearside Biomedical by 8.8% during the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after buying an additional 59,089 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Clearside Biomedical by 24.0% in the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after acquiring an additional 32,048 shares during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC bought a new position in Clearside Biomedical in the 4th quarter valued at about $32,000. 18.75% of the stock is currently owned by institutional investors.

Clearside Biomedical Price Performance

Shares of Clearside Biomedical stock traded down $0.01 during midday trading on Friday, reaching $0.86. The company had a trading volume of 266,926 shares, compared to its average volume of 348,581. The stock has a fifty day moving average price of $0.92 and a 200 day moving average price of $1.01. Clearside Biomedical has a fifty-two week low of $0.70 and a fifty-two week high of $1.65. The firm has a market cap of $66.46 million, a PE ratio of -1.91 and a beta of 2.04.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Thursday, March 27th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.03. The company had revenue of $0.31 million for the quarter, compared to analyst estimates of $0.27 million. As a group, sell-side analysts forecast that Clearside Biomedical will post -0.48 EPS for the current year.

Analysts Set New Price Targets

CLSD has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research report on Monday, March 31st. Needham & Company LLC reiterated a “buy” rating and issued a $4.00 target price on shares of Clearside Biomedical in a research report on Tuesday, April 8th. StockNews.com cut Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Tuesday, March 18th. Finally, Chardan Capital reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, March 28th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.25.

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.