Clearside Biomedical (NASDAQ:CLSD) Issues Earnings Results, Beats Estimates By $0.01 EPS

Clearside Biomedical (NASDAQ:CLSD) issued its quarterly earnings data on Monday. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.01, Yahoo Finance reports. The firm had revenue of $0.86 million for the quarter, compared to analyst estimates of $0.22 million. Clearside Biomedical had a negative net margin of 2,217.30% and a negative return on equity of 533.87%. During the same quarter last year, the firm earned ($0.13) earnings per share.

Clearside Biomedical Stock Performance

Shares of NASDAQ:CLSD opened at $0.97 on Tuesday. The stock’s 50-day moving average is $0.85 and its 200-day moving average is $1.02. The company has a market cap of $60.17 million, a P/E ratio of -1.64 and a beta of 2.17. Clearside Biomedical has a 52-week low of $0.65 and a 52-week high of $1.85.

Insider Buying and Selling

In other Clearside Biomedical news, major shareholder Bradford T. Whitmore bought 64,366 shares of the stock in a transaction on Wednesday, November 1st. The shares were purchased at an average price of $0.74 per share, with a total value of $47,630.84. Following the acquisition, the insider now directly owns 4,050,590 shares of the company’s stock, valued at approximately $2,997,436.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders acquired 84,966 shares of company stock valued at $65,245. Insiders own 9.80% of the company’s stock.

Institutional Trading of Clearside Biomedical

Hedge funds have recently bought and sold shares of the stock. Synovus Financial Corp raised its holdings in shares of Clearside Biomedical by 166.6% in the 1st quarter. Synovus Financial Corp now owns 74,851 shares of the company’s stock worth $171,000 after buying an additional 46,780 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Clearside Biomedical during the 1st quarter worth about $27,000. XTX Topco Ltd lifted its holdings in Clearside Biomedical by 125.6% during the 1st 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 during the last quarter. Renaissance Technologies LLC boosted its position in Clearside Biomedical by 101.5% in the first quarter. Renaissance Technologies LLC now owns 864,951 shares of the company’s stock valued at $1,981,000 after buying an additional 435,734 shares in the last quarter. Finally, State Street Corp grew its stake in Clearside Biomedical by 5.2% during the first quarter. State Street Corp now owns 193,363 shares of the company’s stock worth $443,000 after buying an additional 9,475 shares during the last quarter. 13.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CLSD has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and set a $5.00 price target on shares of Clearside Biomedical in a report on Tuesday, August 15th. Needham & Company LLC restated a “buy” rating and set a $4.00 target price on shares of Clearside Biomedical in a report on Tuesday, August 15th. StockNews.com assumed coverage on Clearside Biomedical in a research report on Wednesday, November 8th. They issued a “sell” rating for the company. JMP Securities reissued a “market outperform” rating and set a $5.00 price objective on shares of Clearside Biomedical in a report on Tuesday, August 15th. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a report on Tuesday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $5.00.

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. The company offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema.