Short Interest in Clearside Biomedical, Inc. (NASDAQ:CLSD) Rises By 646.6%

Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,950,000 shares, a growth of 646.6% from the September 30th total of 261,200 shares. Based on an average trading volume of 718,700 shares, the short-interest ratio is currently 2.7 days.

Hedge Funds Weigh In On Clearside Biomedical

Large investors have recently made changes to their positions in the business. XTX Topco Ltd lifted its position in shares of Clearside Biomedical by 172.2% during the 2nd 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 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. Assenagon Asset Management S.A. purchased a new stake in shares of Clearside Biomedical during the second quarter valued at $368,000. Vanguard Group Inc. boosted its position in shares of Clearside Biomedical by 14.5% in the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company's stock valued at $3,811,000 after purchasing an additional 314,480 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Clearside Biomedical in the 1st quarter worth about $49,000. Institutional investors own 18.75% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on CLSD. HC Wainwright restated a "buy" rating and issued a $5.00 price target on shares of Clearside Biomedical in a research note on Tuesday, August 27th. StockNews.com upgraded Clearside Biomedical from a "sell" rating to a "hold" rating in a research report on Friday, October 18th. Needham & Company LLC boosted their price target on Clearside Biomedical from $4.00 to $6.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Finally, Chardan Capital reissued a "buy" rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Monday, October 14th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $5.17.

Clearside Biomedical Price Performance

CLSD remained flat at $1.10 during trading on Friday. The company's stock had a trading volume of 359,370 shares, compared to its average volume of 408,453. The stock has a fifty day simple moving average of $1.17 and a 200 day simple moving average of $1.21. The stock has a market cap of $82.20 million, a price-to-earnings ratio of -2.00 and a beta of 2.35. Clearside Biomedical has a 12-month low of $0.65 and a 12-month high of $2.12.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.04. The firm had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.25 million. During the same quarter last year, the company earned ($0.15) EPS. As a group, equities research analysts expect that Clearside Biomedical will post -0.56 earnings per share for the current fiscal year.

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.