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

Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,520,000 shares, a decrease of 13.6% from the October 31st total of 1,760,000 shares. Based on an average trading volume of 750,800 shares, the short-interest ratio is currently 2.0 days.

Insider Activity at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong acquired 36,500 shares of the business's stock in a transaction dated Friday, November 1st. The shares were acquired at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the acquisition, the insider now directly owns 100,000 shares in the company, valued at approximately $100,000. The trade was a 57.48 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Clearside Biomedical

Hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. bought a new position in Clearside Biomedical during the second quarter worth about $368,000. Vanguard Group Inc. boosted its holdings in Clearside Biomedical by 14.5% during the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company's stock worth $3,811,000 after buying an additional 314,480 shares during the last quarter. XTX Topco Ltd raised its position 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 worth $71,000 after purchasing an additional 34,359 shares during the period. Renaissance Technologies LLC raised its position in shares of Clearside Biomedical by 6.6% during the second 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. Finally, Johnson & Johnson acquired a new stake in shares of Clearside Biomedical during the third quarter worth about $105,000. Institutional investors own 18.75% of the company's stock.

Clearside Biomedical Trading Down 1.9 %

NASDAQ:CLSD traded down $0.02 during trading hours on Friday, hitting $1.05. The stock had a trading volume of 107,922 shares, compared to its average volume of 252,939. The business has a 50 day simple moving average of $1.15 and a two-hundred day simple moving average of $1.17. The company has a market cap of $79.63 million, a PE ratio of -2.33 and a beta of 2.33. Clearside Biomedical has a 1-year low of $0.92 and a 1-year high of $2.12.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last announced its earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the company posted ($0.15) EPS. Research analysts expect that Clearside Biomedical will post -0.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on CLSD shares. StockNews.com upgraded shares of Clearside Biomedical from a "sell" rating to a "hold" rating in a report on Saturday, November 16th. Chardan Capital restated a "buy" rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Friday, November 15th. Needham & Company LLC restated a "buy" rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Wednesday, November 13th. Finally, HC Wainwright restated a "buy" rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Clearside Biomedical currently 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.