Clearside Biomedical, Inc. (NASDAQ:CLSD) Short Interest Down 9.7% in October

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 1,760,000 shares, a decline of 9.7% from the October 15th total of 1,950,000 shares. Based on an average daily volume of 735,800 shares, the short-interest ratio is currently 2.4 days.

Insider Activity at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong acquired 36,500 shares of Clearside Biomedical stock in a transaction that occurred on Friday, November 1st. The stock was purchased at an average price of $1.00 per share, with a total value of $36,500.00. Following the completion of the transaction, the insider now owns 100,000 shares in the company, valued at approximately $100,000. This trade represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Clearside Biomedical

Large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new stake in Clearside Biomedical in the 2nd quarter valued at approximately $368,000. Vanguard Group Inc. boosted its position in shares of Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after acquiring an additional 314,480 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Clearside Biomedical in the first quarter worth $49,000. XTX Topco Ltd increased its position in Clearside Biomedical by 172.2% during the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after acquiring an additional 34,359 shares during the period. 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 last quarter. Institutional investors and hedge funds own 18.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CLSD shares. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Wednesday, November 13th. StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Thursday, November 14th. 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Clearside Biomedical presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

Clearside Biomedical Stock Performance

Shares of Clearside Biomedical stock opened at $1.02 on Tuesday. The firm has a fifty day simple moving average of $1.19 and a 200-day simple moving average of $1.19. Clearside Biomedical has a 1-year low of $0.92 and a 1-year high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The firm had revenue of $1.04 million for the quarter, compared to analyst estimates of $0.25 million. During the same period in the prior year, the firm earned ($0.15) EPS. Equities research analysts anticipate that Clearside Biomedical will post -0.51 earnings per share for the current fiscal year.

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.