Clearside Biomedical Inc (NASDAQ:CLSD) Sees Large Decline in Short Interest

Clearside Biomedical Inc (NASDAQ:CLSD) saw a significant decrease in short interest in October. As of October 31st, there was short interest totalling 663,000 shares, a decrease of 51.3% from the September 30th total of 1,360,000 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,070,000 shares, the short-interest ratio is currently 0.6 days.

NASDAQ CLSD traded down $0.04 on Thursday, hitting $1.07. 322,900 shares of the stock were exchanged, compared to its average volume of 783,275. Clearside Biomedical has a 52-week low of $0.56 and a 52-week high of $1.92. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.47 and a quick ratio of 3.47. The company has a market capitalization of $43.80 million, a price-to-earnings ratio of -0.40 and a beta of -0.34. The company’s 50-day moving average price is $0.91 and its two-hundred day moving average price is $1.01.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.01). Clearside Biomedical had a negative return on equity of 281.18% and a negative net margin of 18,893.49%. The firm had revenue of $0.14 million for the quarter, compared to analysts’ expectations of $0.05 million. Equities analysts predict that Clearside Biomedical will post -0.84 EPS for the current fiscal year.

Several research firms have weighed in on CLSD. ValuEngine upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. JMP Securities set a $3.00 price objective on shares of Clearside Biomedical and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Zacks Investment Research cut shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a research report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Clearside Biomedical in a research report on Thursday, October 31st. Finally, Wedbush reiterated a “buy” rating and set a $3.00 price objective on shares of Clearside Biomedical in a research report on Monday, October 21st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $2.33.

A number of hedge funds and other institutional investors have recently bought and sold shares of CLSD. A.R.T. Advisors LLC purchased a new position in Clearside Biomedical during the 2nd quarter worth approximately $95,000. Vanguard Group Inc. grew its holdings in shares of Clearside Biomedical by 66.9% during the 2nd quarter. Vanguard Group Inc. now owns 924,485 shares of the company’s stock valued at $899,000 after acquiring an additional 370,690 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Clearside Biomedical during the 2nd quarter valued at $122,000. Finally, Jane Street Group LLC purchased a new position in shares of Clearside Biomedical during the 2nd quarter valued at $98,000. Hedge funds and other institutional investors own 11.88% of the company’s stock.

About Clearside Biomedical

Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to restore and preserve vision for people with serious eye diseases. It develops XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of macular edema associated with uveitis, diabetic macular edema, and macular edema associated with retinal vein occlusion.

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