Clearside Biomedical, Inc. (NASDAQ:CLSD) Insider Ngai Hang Victor Chong Purchases 36,500 Shares

Clearside Biomedical, Inc. (NASDAQ:CLSD) insider Ngai Hang Victor Chong purchased 36,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average cost of $1.00 per share, with a total value of $36,500.00. Following the acquisition, the insider now owns 100,000 shares of the company’s stock, valued at approximately $100,000. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Clearside Biomedical Trading Up 2.0 %

Shares of NASDAQ:CLSD opened at $1.03 on Tuesday. The business has a 50-day moving average price of $1.17 and a 200 day moving average price of $1.20. Clearside Biomedical, Inc. has a 12-month low of $0.76 and a 12-month high of $2.12. The company has a market capitalization of $76.97 million, a price-to-earnings ratio of -2.06 and a beta of 2.33.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same period last year, the firm posted ($0.15) earnings per share. As a group, equities research analysts predict that Clearside Biomedical, Inc. will post -0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CLSD has been the subject of a number of recent research reports. Needham & Company LLC raised their target price on Clearside Biomedical from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Chardan Capital reiterated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Monday, October 14th. Finally, HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Clearside Biomedical in a report on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.17.

Institutional Trading of Clearside Biomedical

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Clearside Biomedical during the first quarter worth $49,000. XTX Topco Ltd lifted its stake in Clearside Biomedical by 172.2% during the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after acquiring an additional 34,359 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Clearside Biomedical during the 2nd quarter valued at about $368,000. 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 valued at $757,000 after acquiring an additional 35,900 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Clearside Biomedical by 14.5% during the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after purchasing an additional 314,480 shares during the period. Hedge funds and other institutional investors 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.