Clearside Biomedical (NASDAQ:CLSD) Stock Crosses Below 50 Day Moving Average – What’s Next?

Clearside Biomedical, Inc. (NASDAQ:CLSD)’s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.95 and traded as low as $0.82. Clearside Biomedical shares last traded at $0.86, with a volume of 96,870 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CLSD shares. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a research report on Thursday, March 6th. StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. Chardan Capital reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Friday, November 15th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, March 6th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Clearside Biomedical has an average rating of “Moderate Buy” and a consensus target price of $5.75.

Clearside Biomedical Stock Performance

The company’s 50 day moving average price is $0.95 and its 200 day moving average price is $1.05. The company has a market cap of $67.48 million, a price-to-earnings ratio of -1.98 and a beta of 2.10.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CLSD. Johnson & Johnson bought a new position in Clearside Biomedical in the 3rd quarter worth $105,000. Geode Capital Management LLC grew its position in Clearside Biomedical by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock worth $929,000 after purchasing an additional 59,089 shares during the last quarter. Investor s Fiduciary Advisor Network LLC acquired a new stake in Clearside Biomedical in the 4th quarter worth $32,000. Finally, Northern Trust Corp grew its position in Clearside Biomedical by 24.0% in the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after purchasing an additional 32,048 shares during the last quarter. 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.