Clearside Biomedical (NASDAQ:CLSD) Share Price Crosses Below 50-Day Moving Average - Should You Sell?

Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $0.95 and traded as low as $0.82. Clearside Biomedical shares last traded at $0.86, with a volume of 96,870 shares.

Analyst Upgrades and Downgrades

CLSD has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Thursday, March 6th. StockNews.com raised shares of Clearside Biomedical from a "sell" rating to a "hold" rating in a research note on Thursday, December 12th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Thursday, March 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $5.75.

Clearside Biomedical Trading Up 0.0 %

The stock has a market cap of $67.50 million, a PE ratio of -1.98 and a beta of 2.10. The firm has a fifty day simple moving average of $0.95 and a two-hundred day simple moving average of $1.05.

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Institutional Investors Weigh In On Clearside Biomedical

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Johnson & Johnson purchased a new stake in Clearside Biomedical during the third quarter valued at about $105,000. Geode Capital Management LLC lifted its position in Clearside Biomedical by 8.8% in the 3rd 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 during the last quarter. Investor s Fiduciary Advisor Network LLC purchased a new stake in Clearside Biomedical in the fourth quarter worth approximately $32,000. Finally, Northern Trust Corp grew its position in Clearside Biomedical by 24.0% during the fourth 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 last quarter. 18.75% of the stock is owned by hedge funds and other 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.