Short Interest in Clearside Biomedical, Inc. (NASDAQ:CLSD) Declines By 11.8%

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the target of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 1,340,000 shares, a decrease of 11.8% from the November 15th total of 1,520,000 shares. Based on an average daily volume of 726,200 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CLSD. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research report on Thursday, November 14th. StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Chardan Capital restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Trading Down 1.0 %

NASDAQ CLSD traded down $0.01 on Monday, reaching $1.01. The stock had a trading volume of 286,675 shares, compared to its average volume of 387,495. The company has a market capitalization of $76.60 million, a price-to-earnings ratio of -2.29 and a beta of 2.29. Clearside Biomedical has a 1 year low of $0.92 and a 1 year high of $2.12. The business has a 50 day moving average price of $1.11 and a 200 day moving average price of $1.15.

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

Insider Buying and Selling

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 36,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the transaction, the insider now owns 100,000 shares in the company, valued at $100,000. The trade was a 57.48 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Clearside Biomedical by 14.5% during the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after purchasing an additional 314,480 shares during the period. Assenagon Asset Management S.A. bought a new position in Clearside Biomedical during the second quarter worth $368,000. Johnson & Johnson acquired a new position in Clearside Biomedical during the 3rd quarter valued at $105,000. Geode Capital Management LLC boosted its holdings in Clearside Biomedical by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after purchasing an additional 59,089 shares during the period. Finally, Renaissance Technologies LLC grew its position in Clearside Biomedical by 6.6% in the 2nd 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 last quarter. Institutional investors and hedge funds own 18.75% of the company’s stock.

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.