Clearside Biomedical, Inc. (NASDAQ:CLSD) Short Interest Down 26.5% in February

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the target of a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 571,300 shares, a drop of 26.5% from the January 31st total of 777,800 shares. Based on an average trading volume of 246,400 shares, the short-interest ratio is currently 2.3 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Investor s Fiduciary Advisor Network LLC purchased a new position in shares of Clearside Biomedical during the fourth quarter valued at about $32,000. Northern Trust Corp boosted its position in Clearside Biomedical by 24.0% during the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after acquiring an additional 32,048 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Clearside Biomedical by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock worth $726,000 after acquiring an additional 32,672 shares during the period. Finally, Johnson & Johnson bought a new position in shares of Clearside Biomedical in the 3rd quarter worth approximately $105,000. 18.75% of the stock is owned by hedge funds and other institutional investors.

Clearside Biomedical Trading Up 5.4 %

Shares of CLSD stock traded up $0.04 during trading hours on Wednesday, reaching $0.84. The company’s stock had a trading volume of 168,087 shares, compared to its average volume of 396,364. Clearside Biomedical has a one year low of $0.77 and a one year high of $2.12. The stock has a market capitalization of $63.94 million, a P/E ratio of -1.87 and a beta of 2.10. The firm’s fifty day simple moving average is $0.96 and its 200 day simple moving average is $1.06.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CLSD shares. StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Wednesday, November 13th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research note on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Clearside Biomedical currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

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.