Clearside Biomedical (NASDAQ:CLSD) Shares Pass Below 50-Day Moving Average - Should You Sell?

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $0.93 and traded as low as $0.80. Clearside Biomedical shares last traded at $0.82, with a volume of 62,249 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CLSD. HC Wainwright reissued a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Monday, March 31st. StockNews.com lowered Clearside Biomedical from a "hold" rating to a "sell" rating in a report on Tuesday, March 18th. Needham & Company LLC reaffirmed a "buy" rating and set a $4.00 price objective on shares of Clearside Biomedical in a research note on Tuesday, April 8th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, Clearside Biomedical currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.25.

Clearside Biomedical Price Performance

The firm has a market capitalization of $61.44 million, a price-to-earnings ratio of -1.76 and a beta of 2.04. The business's 50 day moving average price is $0.91 and its 200-day moving average price is $1.00.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last released its earnings results on Thursday, March 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.03. The business had revenue of $0.31 million for the quarter, compared to analyst estimates of $0.27 million. As a group, analysts expect that Clearside Biomedical, Inc. will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Clearside Biomedical

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in Clearside Biomedical by 8.8% during the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company's stock worth $929,000 after buying an additional 59,089 shares in the last quarter. Northern Trust Corp lifted its position in shares of Clearside Biomedical by 24.0% during the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company's stock valued at $157,000 after acquiring an additional 32,048 shares during the period. Finally, Investor s Fiduciary Advisor Network LLC purchased a new stake in shares of Clearside Biomedical during the 4th quarter worth approximately $32,000. Hedge funds and other 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.