Clearside Biomedical (NASDAQ:CLSD) Share Price Passes Below Fifty Day Moving Average of $1.40

Clearside Biomedical, Inc. (NASDAQ:CLSD)’s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.40 and traded as low as $1.32. Clearside Biomedical shares last traded at $1.35, with a volume of 419,630 shares traded.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CLSD. Wedbush restated an “outperform” rating and set a $4.00 price target (down previously from $5.00) on shares of Clearside Biomedical in a report on Wednesday, March 13th. Needham & Company LLC restated a “buy” rating and set a $4.00 price target on shares of Clearside Biomedical in a report on Monday, May 13th. StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. HC Wainwright lowered their price objective on shares of Clearside Biomedical from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, May 13th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $5.00 price objective on shares of Clearside Biomedical in a research note on Wednesday, March 13th. 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 company has an average rating of “Moderate Buy” and a consensus price target of $4.50.

Clearside Biomedical Trading Down 9.4 %

The stock’s fifty day simple moving average is $1.40 and its 200-day simple moving average is $1.29. The stock has a market capitalization of $100.89 million, a PE ratio of -2.45 and a beta of 2.35.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The company had revenue of $0.23 million for the quarter, compared to the consensus estimate of $0.98 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. As a group, analysts anticipate that Clearside Biomedical, Inc. will post -0.58 earnings per share for the current fiscal year.

Insider Activity at Clearside Biomedical

In other news, insider Ngai Hang Victor Chong acquired 30,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were acquired at an average cost of $1.60 per share, for a total transaction of $48,000.00. Following the purchase, the insider now owns 30,000 shares of the company’s stock, valued at approximately $48,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have bought 44,523 shares of company stock worth $66,623. Company insiders own 9.20% of the company’s stock.

Institutional Investors Weigh In On Clearside Biomedical

Several hedge funds and other institutional investors have recently modified their holdings of CLSD. International Assets Investment Management LLC bought a new stake in shares of Clearside Biomedical during the first quarter valued at about $57,000. Rosalind Advisors Inc. purchased a new position in shares of Clearside Biomedical during the first quarter worth about $3,967,000. SG Americas Securities LLC purchased a new position in shares of Clearside Biomedical during the first quarter worth about $49,000. Finally, Vanguard Group Inc. grew its holdings in shares of Clearside Biomedical by 14.5% during 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. 18.75% of the stock is currently owned by institutional investors.

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.