Clearside Biomedical, Inc. (NASDAQ:CLSD) Short Interest Down 11.8% in November

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 1,340,000 shares, a drop of 11.8% from the November 15th total of 1,520,000 shares. Based on an average daily trading volume, of 726,200 shares, the days-to-cover ratio is presently 1.8 days.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Chardan Capital reaffirmed a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Friday, November 15th. 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 reissued a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, November 14th. Finally, StockNews.com raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Clearside Biomedical has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

Insider Activity

In related news, insider Ngai Hang Victor Chong acquired 36,500 shares of Clearside Biomedical stock in a transaction dated Friday, November 1st. The shares were purchased at an average cost of $1.00 per share, with a total value of $36,500.00. Following the completion of the purchase, the insider now owns 100,000 shares of the company’s stock, valued at $100,000. This represents a 57.48 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.20% of the company’s stock.

Institutional Trading of Clearside Biomedical

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in Clearside Biomedical by 8.8% in the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after buying an additional 59,089 shares during the period. Johnson & Johnson purchased a new position in shares of Clearside Biomedical during the third quarter valued at approximately $105,000. XTX Topco Ltd lifted its holdings in shares of 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 during the last quarter. Renaissance Technologies LLC lifted its holdings 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 purchasing an additional 35,900 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Clearside Biomedical during the second quarter valued at approximately $368,000. 18.75% of the stock is currently owned by hedge funds and other institutional investors.

Clearside Biomedical Stock Performance

Shares of NASDAQ CLSD traded up $0.02 during trading hours on Friday, hitting $1.02. The company’s stock had a trading volume of 317,047 shares, compared to its average volume of 387,972. Clearside Biomedical has a 12 month low of $0.92 and a 12 month high of $2.12. The business has a 50-day simple moving average of $1.11 and a 200-day simple moving average of $1.15. The stock has a market cap of $77.36 million, a price-to-earnings ratio of -2.27 and a beta of 2.29.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.04. The company had revenue of $1.04 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same quarter last year, the business earned ($0.15) earnings per share. On average, equities research analysts forecast that Clearside Biomedical will post -0.48 EPS for the current 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.