Clearside Biomedical Sees Unusually Large Options Volume (NASDAQ:CLSD)

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the recipient of unusually large options trading on Wednesday. Investors purchased 4,038 call options on the stock. This is an increase of approximately 1,327% compared to the typical volume of 283 call options.

Institutional Trading of Clearside Biomedical

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Clearside Biomedical in the first quarter worth $49,000. XTX Topco Ltd lifted its position 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 buying an additional 34,359 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after acquiring an additional 35,900 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Clearside Biomedical during the 1st quarter valued at about $57,000. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Clearside Biomedical in the 2nd quarter valued at approximately $368,000. Hedge funds and other institutional investors own 18.75% of the company’s stock.

Clearside Biomedical Trading Up 0.8 %

Shares of CLSD opened at $1.32 on Friday. Clearside Biomedical has a 12-month low of $0.65 and a 12-month high of $2.12. The business’s 50 day moving average is $1.15 and its 200 day moving average is $1.24. The company has a market capitalization of $98.64 million, a PE ratio of -2.40 and a beta of 2.35.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.25 million. During the same period in the previous year, the company earned ($0.15) EPS. Equities research analysts predict that Clearside Biomedical will post -0.56 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Oppenheimer initiated coverage on shares of Clearside Biomedical in a research note on Tuesday, June 25th. They issued an “outperform” rating and a $5.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Clearside Biomedical in a report on Tuesday, August 27th. Needham & Company LLC raised their price target on Clearside Biomedical from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Chardan Capital began coverage on shares of Clearside Biomedical in a research report on Wednesday, August 21st. They set a “buy” rating and a $6.00 target price for the company. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.17.

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.