Clearside Biomedical Inc (NASDAQ:CLSD) was the recipient of a large decrease in short interest in August. As of August 15th, there was short interest totalling 1,732,100 shares, a decrease of 23.4% from the July 15th total of 2,262,300 shares. Based on an average daily trading volume, of 369,700 shares, the short-interest ratio is presently 4.7 days. Currently, 7.1% of the shares of the stock are sold short.
A number of research analysts recently commented on CLSD shares. Wedbush reiterated a “buy” rating and set a $4.00 price objective on shares of Clearside Biomedical in a research note on Tuesday, August 6th. ValuEngine raised Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of Clearside Biomedical from a “hold” rating to a “strong-buy” rating and set a $1.50 price objective for the company in a research report on Monday, August 12th. Laidlaw downgraded shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, JMP Securities set a $3.00 price target on shares of Clearside Biomedical and gave the stock a “buy” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $3.64.
Shares of NASDAQ CLSD opened at $0.74 on Wednesday. The business has a 50-day moving average price of $0.95 and a two-hundred day moving average price of $1.16. Clearside Biomedical has a one year low of $0.56 and a one year high of $6.75. The firm has a market capitalization of $26.96 million, a PE ratio of -0.28 and a beta of -0.56. The company has a current ratio of 3.47, a quick ratio of 3.47 and a debt-to-equity ratio of 0.69.
Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Clearside Biomedical by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 303,512 shares of the company’s stock worth $324,000 after purchasing an additional 14,181 shares in the last quarter. Virtu Financial LLC raised its holdings in Clearside Biomedical by 29.5% in the 1st quarter. Virtu Financial LLC now owns 69,027 shares of the company’s stock worth $95,000 after acquiring an additional 15,712 shares during the period. SG Americas Securities LLC lifted its position in Clearside Biomedical by 63.4% during the 1st quarter. SG Americas Securities LLC now owns 57,234 shares of the company’s stock worth $79,000 after acquiring an additional 22,213 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Clearside Biomedical by 32.8% during the 4th quarter. Bank of New York Mellon Corp now owns 111,970 shares of the company’s stock valued at $120,000 after purchasing an additional 27,652 shares during the period. Finally, Parallel Advisors LLC bought a new position in Clearside Biomedical in the 1st quarter worth approximately $87,000. Institutional investors and hedge funds own 11.95% 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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