Short Interest in Clearside Biomedical, Inc. (NASDAQ:CLSD) Declines By 13.6%

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 1,520,000 shares, a decrease of 13.6% from the October 31st total of 1,760,000 shares. Based on an average daily trading volume, of 750,800 shares, the short-interest ratio is currently 2.0 days.

Clearside Biomedical Trading Up 3.8 %

NASDAQ:CLSD opened at $1.09 on Tuesday. The stock has a market capitalization of $82.67 million, a P/E ratio of -2.42 and a beta of 2.33. Clearside Biomedical has a 1 year low of $0.92 and a 1 year high of $2.12. The firm has a 50 day moving average of $1.15 and a 200-day moving average of $1.17.

Clearside Biomedical (NASDAQ:CLSD) last announced its earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.04. The business had revenue of $1.04 million for the quarter, compared to the consensus estimate of $0.25 million. During the same quarter in the previous year, the company posted ($0.15) EPS. As a group, analysts forecast that Clearside Biomedical will post -0.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CLSD shares. Needham & Company LLC restated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Wednesday, November 13th. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Thursday, November 14th. Chardan Capital reaffirmed a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, November 15th. Finally, StockNews.com raised Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $5.33.

Insider Activity

In other news, insider Ngai Hang Victor Chong bought 36,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average cost of $1.00 per share, for a total transaction of $36,500.00. Following the completion of the purchase, the insider now owns 100,000 shares of the company’s stock, valued at $100,000. This trade represents a 57.48 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Clearside Biomedical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. bought a new stake in shares of Clearside Biomedical during the second quarter valued at approximately $368,000. Vanguard Group Inc. boosted its position in Clearside Biomedical by 14.5% in the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after buying an additional 314,480 shares during the last quarter. XTX Topco Ltd increased its stake in shares of 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 buying an additional 34,359 shares during the period. Renaissance Technologies LLC raised its position in shares of 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 last quarter. Finally, Johnson & Johnson bought a new stake in shares of Clearside Biomedical during the third quarter worth $105,000. 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.