Clearside Biomedical (NASDAQ:CLSD) Stock Crosses Below Fifty Day Moving Average of $1.12

Clearside Biomedical, Inc. (NASDAQ:CLSD)’s share price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $1.12 and traded as low as $0.92. Clearside Biomedical shares last traded at $0.93, with a volume of 583,238 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently commented on CLSD shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 price target on shares of Clearside Biomedical in a report on Tuesday, August 13th. Chardan Capital assumed coverage on shares of Clearside Biomedical in a report on Wednesday, August 21st. They set a “buy” rating and a $6.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Clearside Biomedical in a research note on Tuesday, August 27th. StockNews.com downgraded Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Friday, May 10th. Finally, Oppenheimer initiated coverage on Clearside Biomedical in a report on Tuesday, June 25th. They set an “outperform” rating and a $5.00 price objective 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4.83.

Clearside Biomedical Stock Performance

The company has a market capitalization of $72.49 million, a P/E ratio of -1.76 and a beta of 2.43. The company’s fifty day simple moving average is $1.11 and its 200-day simple moving average is $1.28.

Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.04. The company had revenue of $0.09 million for the quarter, compared to the consensus estimate of $0.25 million. During the same period last year, the business posted ($0.15) EPS. On average, sell-side analysts predict that Clearside Biomedical, Inc. will post -0.56 EPS for the current year.

Institutional Trading of Clearside Biomedical

A number of institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of Clearside Biomedical in the first quarter worth about $49,000. International Assets Investment Management LLC purchased a new position in shares of Clearside Biomedical during the 1st quarter valued at approximately $57,000. XTX Topco Ltd grew its stake in 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. Assenagon Asset Management S.A. purchased a new stake in Clearside Biomedical in the 2nd quarter worth $368,000. Finally, Renaissance Technologies LLC raised its position 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. 18.75% of the stock is currently owned by institutional investors and hedge funds.

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.