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

Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 741,700 shares, a decrease of 32.6% from the December 15th total of 1,100,000 shares. Based on an average trading volume of 686,000 shares, the short-interest ratio is presently 1.1 days.

Insider Activity

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 36,500 shares of the company's 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 purchase, the insider now directly owns 100,000 shares of the company's stock, valued at $100,000. The trade was a 57.48 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 9.20% of the company's stock.

Hedge Funds Weigh In On Clearside Biomedical

Several hedge funds and other institutional investors have recently bought and sold shares of CLSD. XTX Topco Ltd raised 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 purchasing an additional 34,359 shares during the last quarter. Renaissance Technologies LLC grew its position 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 purchasing an additional 35,900 shares during the period. Geode Capital Management LLC raised its stake in 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 during the last quarter. Finally, Johnson & Johnson purchased a new stake in Clearside Biomedical during the 3rd quarter valued at $105,000. Institutional investors own 18.75% of the company's stock.

Clearside Biomedical Stock Performance

Shares of CLSD traded up $0.02 on Wednesday, hitting $0.94. 89,730 shares of the stock traded hands, compared to its average volume of 146,009. The business has a 50 day simple moving average of $1.01 and a 200 day simple moving average of $1.10. Clearside Biomedical has a one year low of $0.80 and a one year high of $2.12. The company has a market capitalization of $71.29 million, a PE ratio of -2.09 and a beta of 2.20.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.04. The business had revenue of $1.04 million during the quarter, compared to analysts' expectations of $0.25 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. On average, equities analysts expect that Clearside Biomedical will post -0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

CLSD has been the subject of several research analyst reports. Needham & Company LLC restated a "buy" rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Wednesday, November 13th. HC Wainwright reissued a "buy" rating and issued a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday, November 14th. StockNews.com upgraded Clearside Biomedical from a "sell" rating to a "hold" rating in a research report on Thursday, December 12th. Finally, Chardan Capital reiterated a "buy" rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $5.33.

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.

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