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

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Tuesday.

Other research analysts also recently issued research reports about the stock. HC Wainwright restated a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Thursday, March 6th. Needham & Company LLC restated a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Thursday, March 6th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $5.75.

Clearside Biomedical Stock Performance

Shares of NASDAQ:CLSD traded down $0.01 on Tuesday, hitting $1.01. 120,148 shares of the company were exchanged, compared to its average volume of 358,265. The company's 50 day moving average price is $0.95 and its two-hundred day moving average price is $1.05. Clearside Biomedical has a one year low of $0.77 and a one year high of $1.78. The firm has a market capitalization of $76.22 million, a price-to-earnings ratio of -2.23 and a beta of 2.10.

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Institutional Trading of Clearside Biomedical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLSD. Investor s Fiduciary Advisor Network LLC bought a new stake in Clearside Biomedical in the fourth quarter valued at about $32,000. Johnson & Johnson bought a new stake in Clearside Biomedical in the third quarter valued at about $105,000. Northern Trust Corp grew its stake in Clearside Biomedical by 24.0% during the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company's stock worth $157,000 after buying an additional 32,048 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Clearside Biomedical by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company's stock worth $726,000 after buying an additional 32,672 shares during the last quarter. Institutional investors own 18.75% of the company's stock.

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.