Clearside Biomedical, Inc. (NASDAQ:CLSD – Get Free Report) 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 – Get Free Report) 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
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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.
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