Johnson & Johnson Makes New $105,000 Investment in Clearside Biomedical, Inc. (NASDAQ:CLSD)

Johnson & Johnson purchased a new stake in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 82,481 shares of the company’s stock, valued at approximately $105,000. Clearside Biomedical accounts for approximately 0.0% of Johnson & Johnson’s investment portfolio, making the stock its 19th largest holding.

A number of other hedge funds have also modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Clearside Biomedical in the first quarter worth about $49,000. XTX Topco Ltd boosted its stake in Clearside Biomedical by 172.2% in the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after purchasing an additional 34,359 shares during the period. Assenagon Asset Management S.A. purchased a new stake in Clearside Biomedical during the 2nd quarter valued at approximately $368,000. Renaissance Technologies LLC raised its position in shares of Clearside Biomedical by 6.6% during the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock valued at $757,000 after buying an additional 35,900 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 worth $3,811,000 after buying an additional 314,480 shares in the last quarter. 18.75% of the stock is currently owned by institutional investors.

Clearside Biomedical Stock Performance

Shares of Clearside Biomedical stock traded up $0.01 on Wednesday, hitting $1.09. 4,131 shares of the company traded hands, compared to its average volume of 394,991. The stock’s 50 day moving average price is $1.16 and its 200-day moving average price is $1.17. Clearside Biomedical, Inc. has a 52 week low of $0.92 and a 52 week high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.04. The firm had revenue of $1.04 million during the quarter, compared to the consensus estimate of $0.25 million. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. As a group, equities analysts forecast that Clearside Biomedical, Inc. will post -0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Thursday, November 14th. Finally, Chardan Capital reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Clearside Biomedical has an average rating of “Moderate Buy” and an average price target of $5.33.

Insider Transactions at Clearside Biomedical

In other Clearside Biomedical news, insider Ngai Hang Victor Chong acquired 36,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was purchased at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the acquisition, the insider now owns 100,000 shares in the company, valued at approximately $100,000. This trade represents a 57.48 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 9.20% 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.