Short Interest in Clearside Biomedical, Inc. (NASDAQ:CLSD) Expands By 34.3%

Clearside Biomedical, Inc. (NASDAQ:CLSD) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 767,400 shares, an increase of 34.3% from the February 13th total of 571,300 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 258,500 shares, the days-to-cover ratio is presently 3.0 days.

Clearside Biomedical Stock Up 3.3 %

CLSD stock traded up $0.03 during midday trading on Friday, reaching $0.89. The stock had a trading volume of 75,443 shares, compared to its average volume of 365,539. The business has a fifty day simple moving average of $0.95 and a two-hundred day simple moving average of $1.05. The firm has a market cap of $67.48 million, a price-to-earnings ratio of -1.98 and a beta of 2.10. Clearside Biomedical has a twelve month low of $0.77 and a twelve month high of $1.80.

Analyst Ratings Changes

CLSD has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, March 6th. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, March 6th. Finally, StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Clearside Biomedical presently has an average rating of “Moderate Buy” and an average target price of $5.75.

Institutional Trading of Clearside Biomedical

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

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.