Clearside Biomedical, Inc. (NASDAQ:CLSD) Short Interest Down 11.8% in November

Clearside Biomedical, Inc. (NASDAQ:CLSD) saw a significant drop in short interest in November. As of November 30th, there was short interest totalling 1,340,000 shares, a drop of 11.8% from the November 15th total of 1,520,000 shares. Based on an average trading volume of 726,200 shares, the short-interest ratio is presently 1.8 days.

Clearside Biomedical Stock Performance

Shares of CLSD stock traded up $0.02 during mid-day trading on Friday, reaching $1.02. 317,047 shares of the company’s stock traded hands, compared to its average volume of 387,972. 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 price of $1.11 and a two-hundred day moving average price of $1.15. The firm has a market capitalization of $77.36 million, a PE ratio of -2.27 and a beta of 2.29.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $1.04 million for the quarter, compared to the consensus estimate of $0.25 million. During the same period in the previous year, the firm earned ($0.15) EPS. As a group, equities analysts expect that Clearside Biomedical will post -0.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong purchased 36,500 shares of Clearside Biomedical stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $100,000. The trade was a 57.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Clearside Biomedical

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after acquiring an additional 314,480 shares during the period. Geode Capital Management LLC lifted its stake in shares of Clearside Biomedical by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after buying an additional 59,089 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Clearside Biomedical by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after buying an additional 35,900 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Clearside Biomedical during the 2nd quarter valued at $368,000. Finally, Johnson & Johnson purchased a new position in shares of Clearside Biomedical during the 3rd quarter valued at $105,000. Institutional investors own 18.75% of the company’s stock.

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.