Clearside Biomedical (NASDAQ:CLSD) Shares Cross Below 50-Day Moving Average of $1.45

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.45 and traded as low as $1.25. Clearside Biomedical shares last traded at $1.27, with a volume of 84,686 shares traded.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CLSD shares. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Thursday, March 14th. StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, February 10th. Wedbush restated an “outperform” rating and set a $4.00 price target (down from $5.00) on shares of Clearside Biomedical in a research report on Wednesday, March 13th. Needham & Company LLC restated a “buy” rating and set a $4.00 price target on shares of Clearside Biomedical in a research report on Thursday, April 11th. Finally, JMP Securities restated a “market outperform” rating and set a $5.00 price target on shares of Clearside Biomedical in a research report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Clearside Biomedical currently has a consensus rating of “Moderate Buy” and an average target price of $4.75.

Clearside Biomedical Price Performance

The company has a 50 day moving average price of $1.45 and a two-hundred day moving average price of $1.23. The stock has a market cap of $94.89 million, a PE ratio of -2.40 and a beta of 2.29.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.02. The business had revenue of $6.35 million during the quarter, compared to analysts’ expectations of $3.40 million. As a group, equities analysts predict that Clearside Biomedical, Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Transactions at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong purchased 30,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was purchased at an average price of $1.60 per share, for a total transaction of $48,000.00. Following the completion of the purchase, the insider now directly owns 30,000 shares of the company’s stock, valued at $48,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Ngai Hang Victor Chong acquired 30,000 shares of Clearside Biomedical stock in a transaction that occurred on Wednesday, March 20th. The stock was bought at an average price of $1.60 per share, for a total transaction of $48,000.00. Following the completion of the transaction, the insider now owns 30,000 shares in the company, valued at $48,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bradford T. Whitmore acquired 444,444 shares of Clearside Biomedical stock in a transaction that occurred on Wednesday, February 7th. The shares were purchased at an average price of $1.35 per share, with a total value of $599,999.40. Following the transaction, the insider now owns 4,495,034 shares of the company’s stock, valued at approximately $6,068,295.90. The disclosure for this purchase can be found here. Insiders acquired 481,154 shares of company stock worth $656,387 over the last quarter. 9.80% of the stock is currently owned by insiders.

Institutional Trading of Clearside Biomedical

A hedge fund recently bought a new stake in Clearside Biomedical stock. International Assets Investment Management LLC purchased a new position in Clearside Biomedical, Inc. (NASDAQ:CLSD) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,000 shares of the company’s stock, valued at approximately $57,000. 18.75% of the stock is owned by hedge funds and other institutional investors.

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.