Clearside Biomedical, Inc. (NASDAQ:CLSD) Short Interest Update

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 339,900 shares, an increase of 23.4% from the February 29th total of 275,400 shares. Based on an average daily trading volume, of 339,500 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CLSD. JMP Securities reissued a “market outperform” rating and issued a $5.00 price target on shares of Clearside Biomedical in a research note on Wednesday, March 13th. StockNews.com raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. Wedbush reaffirmed an “outperform” rating and set a $4.00 target price (down previously from $5.00) on shares of Clearside Biomedical in a research note on Wednesday, March 13th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, March 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.75.

Clearside Biomedical Stock Up 3.3 %

NASDAQ:CLSD traded up $0.05 on Monday, hitting $1.58. The stock had a trading volume of 232,986 shares, compared to its average volume of 351,437. The business’s fifty day moving average is $1.45 and its 200 day moving average is $1.17. The company has a market cap of $118.06 million, a PE ratio of -2.98 and a beta of 2.28. Clearside Biomedical has a 52 week low of $0.65 and a 52 week high of $2.12.

Insider Buying and Selling

In other news, insider Ngai Hang Victor Chong bought 30,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was acquired at an average price of $1.60 per share, with a total value of $48,000.00. Following the acquisition, the insider now directly owns 30,000 shares in the company, valued at $48,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Bradford T. Whitmore purchased 444,444 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was bought at an average price of $1.35 per share, with a total value of $599,999.40. Following the completion of the purchase, the insider now owns 4,495,034 shares in the company, valued at approximately $6,068,295.90. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Ngai Hang Victor Chong purchased 30,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was bought at an average cost of $1.60 per share, with a total value of $48,000.00. Following the purchase, the insider now owns 30,000 shares of the company’s stock, valued at approximately $48,000. The disclosure for this purchase can be found here. 9.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLSD. Balyasny Asset Management LLC bought a new position in shares of Clearside Biomedical in the third quarter valued at approximately $25,000. Mackenzie Financial Corp bought a new position in shares of Clearside Biomedical in the first quarter valued at approximately $27,000. JPMorgan Chase & Co. lifted its holdings in shares of Clearside Biomedical by 100.6% in the second quarter. JPMorgan Chase & Co. now owns 18,161 shares of the company’s stock valued at $27,000 after purchasing an additional 9,109 shares in the last quarter. Stifel Financial Corp lifted its holdings in shares of Clearside Biomedical by 375.6% in the second quarter. Stifel Financial Corp now owns 60,544 shares of the company’s stock valued at $68,000 after purchasing an additional 47,814 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in shares of Clearside Biomedical by 125.6% in the first quarter. XTX Topco Ltd now owns 50,947 shares of the company’s stock valued at $117,000 after purchasing an additional 28,366 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.