Clearside Biomedical (NASDAQ:CLSD) Stock Price Passes Below Fifty Day Moving Average of $1.12

Clearside Biomedical, Inc. (NASDAQ:CLSD)’s stock price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $1.12 and traded as low as $0.92. Clearside Biomedical shares last traded at $0.93, with a volume of 583,238 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on CLSD. Chardan Capital assumed coverage on shares of Clearside Biomedical in a research report on Wednesday, August 21st. They set a “buy” rating and a $6.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price target on shares of Clearside Biomedical in a research report on Tuesday, August 13th. StockNews.com cut Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Clearside Biomedical in a research note on Tuesday, August 27th. Finally, Oppenheimer began 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. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $4.83.

Clearside Biomedical Trading Up 4.6 %

The firm has a market capitalization of $72.49 million, a PE ratio of -1.76 and a beta of 2.43. The stock’s 50 day moving average price is $1.11 and its two-hundred day moving average price is $1.28.

Clearside Biomedical (NASDAQ:CLSD) last released its earnings results on Monday, August 12th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. The business had revenue of $0.09 million during the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. Analysts expect that Clearside Biomedical, Inc. will post -0.56 earnings per share for the current year.

Institutional Trading of Clearside Biomedical

Institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of Clearside Biomedical in the first quarter worth approximately $57,000. Rosalind Advisors Inc. purchased a new stake in shares of Clearside Biomedical in the first quarter valued at $3,967,000. SG Americas Securities LLC acquired a new stake in shares of Clearside Biomedical in the first quarter worth $49,000. Vanguard Group Inc. grew its holdings in shares of Clearside Biomedical by 14.5% during the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after buying an additional 314,480 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in Clearside Biomedical during the second quarter valued at $368,000. Institutional investors and hedge funds own 18.75% of the company’s stock.

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.