Short Interest in Clearside Biomedical, Inc. (NASDAQ:CLSD) Increases By 646.6%

Clearside Biomedical, Inc. (NASDAQ:CLSD) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 1,950,000 shares, a growth of 646.6% from the September 30th total of 261,200 shares. Based on an average daily volume of 718,700 shares, the days-to-cover ratio is currently 2.7 days.

Clearside Biomedical Stock Performance

Clearside Biomedical stock remained flat at $1.10 during midday trading on Friday. 390,032 shares of the company’s stock traded hands, compared to its average volume of 408,453. The firm has a market cap of $82.20 million, a P/E ratio of -2.00 and a beta of 2.35. The business’s 50 day moving average price is $1.17 and its 200-day moving average price is $1.21. Clearside Biomedical has a one year low of $0.65 and a one year high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.04. The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.25 million. During the same period in the previous year, the company posted ($0.15) EPS. As a group, sell-side analysts expect that Clearside Biomedical will post -0.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CLSD. Chardan Capital restated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Monday, October 14th. Needham & Company LLC boosted their target price on shares of Clearside Biomedical from $4.00 to $6.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Clearside Biomedical in a research note on Tuesday, August 27th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.17.

Institutional Trading of Clearside Biomedical

A number of hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd raised its position in shares of 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 acquiring an additional 34,359 shares in the last quarter. Renaissance Technologies LLC boosted its position in 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 in the last quarter. Assenagon Asset Management S.A. purchased a new position in Clearside Biomedical in the second quarter valued at about $368,000. Vanguard Group Inc. raised its holdings in 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 purchasing an additional 314,480 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Clearside Biomedical during the first quarter valued at about $49,000. Hedge funds and other institutional investors own 18.75% 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.