Clearside Biomedical (NASDAQ:CLSD) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) 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.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CLSD shares. Needham & Company LLC restated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Thursday, November 14th. StockNews.com raised Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. Finally, Chardan Capital reiterated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research report on Friday, November 15th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.33.

Clearside Biomedical Stock Up 5.6 %

The firm’s 50 day moving average is $1.05 and its two-hundred day moving average is $1.13. The stock has a market cap of $70.46 million, a price-to-earnings ratio of -2.06 and a beta of 2.29.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. On average, analysts anticipate that Clearside Biomedical, Inc. will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong bought 36,500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was purchased at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the transaction, the insider now owns 100,000 shares in the company, valued at approximately $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 9.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd increased 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 period. Johnson & Johnson acquired a new position in Clearside Biomedical during the third quarter worth about $105,000. 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 acquiring an additional 35,900 shares during the period. Finally, Geode Capital Management LLC raised its position in Clearside Biomedical by 8.8% in the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after acquiring an additional 59,089 shares in the last quarter. 18.75% of the stock is currently owned by institutional investors and hedge funds.

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.