Clearside Biomedical, Inc. (NASDAQ:CLSD) Sees Large Increase in Short Interest

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 335,200 shares, a growth of 86.0% from the August 15th total of 180,200 shares. Based on an average daily volume of 220,800 shares, the days-to-cover ratio is presently 1.5 days.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Oppenheimer initiated coverage on shares of Clearside Biomedical in a research note on Tuesday, June 25th. They set an “outperform” rating and a $5.00 target price for the company. Chardan Capital started coverage on shares of Clearside Biomedical in a research report on Wednesday, August 21st. They set a “buy” rating and a $6.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of Clearside Biomedical in a research note on Tuesday, August 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $4.00 price target on shares of Clearside Biomedical in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $4.83.

Clearside Biomedical Stock Down 8.9 %

Clearside Biomedical stock traded down $0.12 during mid-day trading on Friday, hitting $1.23. 661,309 shares of the stock were exchanged, compared to its average volume of 271,609. Clearside Biomedical has a 12 month low of $0.65 and a 12 month high of $2.12. The firm’s fifty day simple moving average is $1.11 and its two-hundred day simple moving average is $1.28.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $0.09 million for the quarter, compared to analysts’ expectations of $0.25 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. Equities analysts predict that Clearside Biomedical will post -0.56 EPS for the current year.

Institutional Investors Weigh In On Clearside Biomedical

A number of large investors have recently added to or reduced their stakes in CLSD. SG Americas Securities LLC purchased a new stake in shares of Clearside Biomedical in the 1st quarter worth approximately $49,000. International Assets Investment Management LLC purchased a new stake in Clearside Biomedical in the first quarter worth about $57,000. XTX Topco Ltd lifted its holdings in Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after purchasing an additional 34,359 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Clearside Biomedical in the 2nd quarter worth $368,000. Finally, Renaissance Technologies LLC raised its stake in Clearside Biomedical by 6.6% during the 2nd quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after purchasing an additional 35,900 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.