Clearside Biomedical (NASDAQ:CLSD) Downgraded to Sell Rating by StockNews.com

Clearside Biomedical (NASDAQ:CLSD) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Several other equities analysts also recently issued reports on CLSD. Chardan Capital restated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a report on Monday, October 14th. Needham & Company LLC upped their price objective on shares of Clearside Biomedical from $4.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Clearside Biomedical in a report on Tuesday, August 27th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Clearside Biomedical presently has an average rating of “Moderate Buy” and a consensus target price of $5.17.

Clearside Biomedical Stock Performance

CLSD stock opened at $1.14 on Friday. The firm has a market cap of $85.19 million, a price-to-earnings ratio of -2.28 and a beta of 2.33. The firm has a 50-day simple moving average of $1.18 and a two-hundred day simple moving average of $1.19. Clearside Biomedical has a one year low of $0.76 and a one year high of $2.12.

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

Insider Activity

In other Clearside Biomedical news, insider Ngai Hang Victor Chong bought 36,500 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were purchased at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the transaction, the insider now directly owns 100,000 shares of the company’s stock, valued at approximately $100,000. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 9.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Clearside Biomedical by 14.5% in the 1st quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock valued at $3,811,000 after purchasing an additional 314,480 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Clearside Biomedical by 6.6% in the 2nd 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 2nd quarter valued at $368,000. XTX Topco Ltd increased its stake 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 during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Clearside Biomedical in the 1st quarter worth $49,000. Hedge funds and other institutional investors own 18.75% of the company’s stock.

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.