Clearside Biomedical, Inc. (NASDAQ:CLSD) Short Interest Update

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 741,700 shares, a decline of 32.6% from the December 15th total of 1,100,000 shares. Based on an average daily volume of 686,000 shares, the days-to-cover ratio is presently 1.1 days.

Clearside Biomedical Stock Performance

Shares of Clearside Biomedical stock traded up $0.02 during trading hours on Wednesday, hitting $0.94. The company’s stock had a trading volume of 89,730 shares, compared to its average volume of 146,009. The company has a market cap of $71.29 million, a PE ratio of -2.09 and a beta of 2.20. The business has a 50 day moving average price of $1.01 and a two-hundred day moving average price of $1.10. Clearside Biomedical has a 12-month low of $0.80 and a 12-month high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The business had revenue of $1.04 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same period in the prior year, the firm posted ($0.15) earnings per share. As a group, research analysts anticipate that Clearside Biomedical will post -0.48 earnings per share for the current year.

Insider Buying and Selling at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong acquired 36,500 shares of the stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the purchase, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.20% of the company’s stock.

Hedge Funds Weigh In On Clearside Biomedical

Institutional investors have recently bought and sold shares of the stock. Johnson & Johnson bought a new stake in shares of Clearside Biomedical in the third quarter worth about $105,000. Geode Capital Management LLC increased its stake in Clearside Biomedical by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after acquiring an additional 59,089 shares during the last quarter. Renaissance Technologies LLC increased its stake in Clearside Biomedical by 6.6% in the 2nd 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, XTX Topco Ltd raised its holdings in shares of 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. 18.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CLSD. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research report on Thursday, November 14th. StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research report on Wednesday, November 13th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Friday, November 15th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

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.