Clearside Biomedical, Inc. (NASDAQ:CLSD) Short Interest Update

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 468,900 shares, a drop of 36.3% from the March 15th total of 735,600 shares. Based on an average trading volume of 204,100 shares, the short-interest ratio is presently 2.3 days. Approximately 0.7% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

CLSD has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 target price on shares of Clearside Biomedical in a research note on Tuesday, April 8th. HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Monday, March 31st. StockNews.com cut Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Tuesday, March 18th. Finally, Chardan Capital reissued a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, Clearside Biomedical presently has an average rating of “Moderate Buy” and an average target price of $5.25.

Clearside Biomedical Trading Down 1.1 %

Clearside Biomedical stock traded down $0.01 during mid-day trading on Thursday, hitting $0.86. The company had a trading volume of 266,924 shares, compared to its average volume of 348,505. Clearside Biomedical has a 12 month low of $0.70 and a 12 month high of $1.65. The company has a market capitalization of $66.46 million, a PE ratio of -1.91 and a beta of 2.04. The stock’s 50 day moving average price is $0.92 and its two-hundred day moving average price is $1.01.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.03. The firm had revenue of $0.31 million for the quarter, compared to the consensus estimate of $0.27 million. Equities research analysts anticipate that Clearside Biomedical will post -0.48 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLSD. Geode Capital Management LLC lifted its holdings in shares of Clearside Biomedical by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock valued at $726,000 after buying an additional 32,672 shares during the period. Northern Trust Corp grew 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 purchasing an additional 32,048 shares during the period. Finally, Investor s Fiduciary Advisor Network LLC purchased a new stake in shares of Clearside Biomedical during the 4th quarter valued at about $32,000. Institutional investors own 18.75% of the company’s stock.

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.