Clearside Biomedical, Inc. (NASDAQ:CLSD) Sees Significant Decline in Short Interest

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 468,900 shares, a decrease of 36.3% from the March 15th total of 735,600 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily volume of 204,100 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Investors Weigh In On Clearside Biomedical

Several large investors have recently added to or reduced their stakes in the company. Investor s Fiduciary Advisor Network LLC bought a new position in Clearside Biomedical during the fourth quarter worth about $32,000. Northern Trust Corp lifted its stake 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 buying an additional 32,048 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 period. Hedge funds and other institutional investors own 18.75% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CLSD. StockNews.com cut Clearside Biomedical from a “hold” rating to a “sell” rating in a research report on Tuesday, March 18th. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Monday, March 31st. Needham & Company LLC reissued a “buy” rating and set a $4.00 price target on shares of Clearside Biomedical in a research report on Tuesday, April 8th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Friday, March 28th. One 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.com, Clearside Biomedical currently has an average rating of “Moderate Buy” and a consensus target price of $5.25.

Clearside Biomedical Stock Down 1.1 %

NASDAQ CLSD traded down $0.01 during trading hours on Thursday, reaching $0.86. 266,924 shares of the company were exchanged, compared to its average volume of 348,505. The stock has a market capitalization of $66.46 million, a P/E ratio of -1.91 and a beta of 2.04. Clearside Biomedical has a 1 year low of $0.70 and a 1 year high of $1.65. The business’s 50 day simple moving average is $0.92 and its 200-day simple moving average is $1.01.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Thursday, March 27th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.03. The firm had revenue of $0.31 million during the quarter, compared to analysts’ expectations of $0.27 million. As a group, sell-side analysts anticipate that Clearside Biomedical will post -0.48 earnings per share for the current year.

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.