Short Interest in Clearside Biomedical Inc (NASDAQ:CLSD) Drops By 23.4%

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.

Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Wednesday, August 7th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.22. The company had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.05 million. Research analysts anticipate that Clearside Biomedical will post -0.98 EPS for the current year.

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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