Clearside Biomedical (NASDAQ:CLSD) Cut to Sell at StockNews.com

StockNews.com lowered shares of Clearside Biomedical (NASDAQ:CLSD) from a hold rating to a sell rating in a report released on Tuesday.

Other equities research analysts have also issued reports about the stock. HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Thursday, March 6th. Needham & Company LLC restated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat.com, Clearside Biomedical has an average rating of “Moderate Buy” and a consensus price target of $5.75.

Clearside Biomedical Price Performance

Shares of Clearside Biomedical stock opened at $1.01 on Tuesday. Clearside Biomedical has a 1 year low of $0.77 and a 1 year high of $1.80. The firm has a market cap of $76.60 million, a PE ratio of -2.24 and a beta of 2.10. The company has a 50 day simple moving average of $0.95 and a two-hundred day simple moving average of $1.05.

Institutional Trading of Clearside Biomedical

Several institutional investors have recently bought and sold shares of the company. Investor s Fiduciary Advisor Network LLC bought a new position in Clearside Biomedical during the 4th quarter valued at about $32,000. Johnson & Johnson bought a new position in Clearside Biomedical during the 3rd quarter valued at about $105,000. Northern Trust Corp lifted its stake in 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 acquiring an additional 32,048 shares during the period. Finally, Geode Capital Management LLC lifted its stake in 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 acquiring an additional 32,672 shares during the period. 18.75% of the stock is owned by hedge funds and other institutional investors.

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.