Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report)'s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.05 and traded as low as $0.85. Clearside Biomedical shares last traded at $0.93, with a volume of 567,736 shares traded.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on CLSD shares. StockNews.com upgraded Clearside Biomedical from a "sell" rating to a "hold" rating in a research note on Thursday, December 12th. Needham & Company LLC reissued a "buy" rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Wednesday, November 13th. HC Wainwright restated a "buy" rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Thursday, November 14th. Finally, Chardan Capital reiterated a "buy" rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $5.33.
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Clearside Biomedical Stock Up 0.1 %
The company has a market capitalization of $70.53 million, a PE ratio of -2.07 and a beta of 2.29. The firm's 50-day moving average is $1.05 and its 200-day moving average is $1.13.
Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. The firm had revenue of $1.04 million for the quarter, compared to the consensus estimate of $0.25 million. During the same quarter last year, the company posted ($0.15) earnings per share. As a group, equities research analysts predict that Clearside Biomedical, Inc. will post -0.48 EPS for the current year.
Insider Buying and Selling
In related news, insider Ngai Hang Victor Chong purchased 36,500 shares of the firm's stock in a transaction on Friday, November 1st. The shares were acquired at an average cost of $1.00 per share, with a total value of $36,500.00. Following the purchase, the insider now directly owns 100,000 shares of the company's stock, valued at approximately $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 9.20% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Clearside Biomedical
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. XTX Topco Ltd raised its stake 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 acquiring an additional 34,359 shares during the last quarter. Renaissance Technologies LLC raised its position in Clearside Biomedical by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company's stock valued at $757,000 after purchasing an additional 35,900 shares during the last quarter. Johnson & Johnson purchased a new stake in Clearside Biomedical in the 3rd quarter worth approximately $105,000. Finally, Geode Capital Management LLC increased its position 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 purchasing an additional 59,089 shares during the period. 18.75% of the stock is currently owned by institutional investors.
About Clearside Biomedical
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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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