Clearside Biomedical (NASDAQ:CLSD) Cut to Sell at StockNews.com

StockNews.com lowered shares of Clearside Biomedical (NASDAQ:CLSD) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

CLSD has been the topic of a number of other reports. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat.com, Clearside Biomedical presently has an average rating of “Moderate Buy” and an average target price of $5.75.

Clearside Biomedical Price Performance

CLSD stock opened at $1.01 on Tuesday. The company has a 50 day simple moving average of $0.95 and a 200 day simple moving average of $1.05. The stock has a market cap of $76.60 million, a price-to-earnings ratio of -2.24 and a beta of 2.10. Clearside Biomedical has a 1 year low of $0.77 and a 1 year high of $1.80.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CLSD. Investor s Fiduciary Advisor Network LLC bought a new stake in Clearside Biomedical in the fourth quarter worth about $32,000. Johnson & Johnson bought a new stake in Clearside Biomedical in the third quarter worth about $105,000. Northern Trust Corp raised its position in Clearside Biomedical by 24.0% in the fourth 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 period. Finally, Geode Capital Management LLC raised its position in Clearside Biomedical by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock worth $726,000 after acquiring an additional 32,672 shares during the period. 18.75% of the stock is owned by institutional investors.

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.