Clearside Biomedical, Inc. (NASDAQ:CLSD) Sees Large Increase in Short Interest

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 767,400 shares, a growth of 34.3% from the February 13th total of 571,300 shares. Currently, 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 258,500 shares, the days-to-cover ratio is currently 3.0 days.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CLSD. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research report on Thursday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, March 6th. Finally, StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.75.

Institutional Investors Weigh In On Clearside Biomedical

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of Clearside Biomedical by 8.8% during the third quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after acquiring an additional 59,089 shares in the last quarter. Johnson & Johnson acquired a new stake in Clearside Biomedical during the 3rd quarter valued at approximately $105,000. Northern Trust Corp grew its stake in Clearside Biomedical by 24.0% during the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock valued at $157,000 after purchasing an additional 32,048 shares in the last quarter. Finally, Investor s Fiduciary Advisor Network LLC purchased a new stake in Clearside Biomedical during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 18.75% of the company’s stock.

Clearside Biomedical Stock Down 3.3 %

CLSD opened at $0.86 on Monday. The firm’s 50 day moving average is $0.95 and its 200-day moving average is $1.05. Clearside Biomedical has a 52-week low of $0.77 and a 52-week high of $1.80. The firm has a market capitalization of $65.23 million, a P/E ratio of -1.91 and a beta of 2.10.

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.