Clearside Biomedical (NASDAQ:CLSD) Rating Lowered to “Sell” at StockNews.com

Clearside Biomedical (NASDAQ:CLSD) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

A number of other equities analysts have also recently commented on CLSD. HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Clearside Biomedical in a research note on Tuesday, August 27th. Chardan Capital reaffirmed a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Monday, October 14th. Finally, Needham & Company LLC lifted their price target on shares of Clearside Biomedical from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.17.

Clearside Biomedical Stock Performance

Shares of NASDAQ:CLSD traded up $0.03 on Friday, reaching $1.14. The company’s stock had a trading volume of 294,835 shares, compared to its average volume of 403,491. Clearside Biomedical has a 52-week low of $0.76 and a 52-week high of $2.12. The company has a market cap of $85.19 million, a P/E ratio of -2.28 and a beta of 2.33. The company has a 50-day simple moving average of $1.18 and a 200 day simple moving average of $1.20.

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

Insider Activity at Clearside Biomedical

In related news, insider Ngai Hang Victor Chong acquired 36,500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was bought at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the acquisition, the insider now directly owns 100,000 shares of the company’s stock, valued at $100,000. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clearside Biomedical

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of Clearside Biomedical in the 1st quarter valued at about $49,000. XTX Topco Ltd raised its holdings in shares of Clearside Biomedical by 172.2% in the 2nd 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 stake in shares of Clearside Biomedical in the 2nd quarter valued at about $368,000. Renaissance Technologies LLC raised its holdings in shares of Clearside Biomedical by 6.6% in 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 in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Clearside Biomedical by 14.5% in the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after purchasing an additional 314,480 shares in the last quarter. Institutional investors 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.