Short Interest in Clearside Biomedical, Inc. (NASDAQ:CLSD) Drops By 13.6%

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the target of a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 1,520,000 shares, a drop of 13.6% from the October 31st total of 1,760,000 shares. Based on an average trading volume of 750,800 shares, the short-interest ratio is currently 2.0 days.

Clearside Biomedical Price Performance

Clearside Biomedical stock opened at $1.09 on Tuesday. The firm has a 50-day moving average of $1.15 and a 200-day moving average of $1.17. The company has a market cap of $82.67 million, a price-to-earnings ratio of -2.42 and a beta of 2.33. Clearside Biomedical has a one year low of $0.92 and a one year high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.25 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. As a group, sell-side analysts expect that Clearside Biomedical will post -0.48 earnings per share for the current year.

Insider Activity at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong acquired 36,500 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were acquired at an average price of $1.00 per share, with a total value of $36,500.00. Following the purchase, the insider now owns 100,000 shares of the company’s stock, valued at $100,000. This represents a 57.48 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Clearside Biomedical

A number of institutional investors have recently added to or reduced their stakes in CLSD. XTX Topco Ltd grew its position in shares of Clearside Biomedical by 172.2% in 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 period. Johnson & Johnson bought a new stake in shares of Clearside Biomedical in the 3rd quarter valued at about $105,000. Assenagon Asset Management S.A. acquired a new stake in Clearside Biomedical in the 2nd quarter valued at about $368,000. Renaissance Technologies LLC grew its holdings in 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. Finally, Geode Capital Management LLC increased its position in Clearside Biomedical by 8.8% during the third 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. 18.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Wednesday, November 13th. StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Finally, Chardan Capital restated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, November 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Clearside Biomedical presently has an average rating of “Moderate Buy” and a consensus price target of $5.33.

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.