Ngai Hang Victor Chong Purchases 36,500 Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) Stock

Clearside Biomedical, Inc. (NASDAQ:CLSD) insider Ngai Hang Victor Chong purchased 36,500 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was acquired at an average price of $1.00 per share, for a total transaction of $36,500.00. Following the acquisition, the insider now directly owns 100,000 shares of the company’s stock, valued at $100,000. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Clearside Biomedical Trading Up 0.9 %

CLSD stock opened at $1.08 on Thursday. Clearside Biomedical, Inc. has a twelve month low of $0.76 and a twelve month high of $2.12. The company has a market capitalization of $80.71 million, a P/E ratio of -2.16 and a beta of 2.33. The firm has a 50 day simple moving average of $1.18 and a 200-day simple moving average of $1.20.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.04. The company had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.25 million. During the same period in the previous year, the business posted ($0.15) EPS. On average, research analysts predict that Clearside Biomedical, Inc. will post -0.56 EPS for the current year.

Wall Street Analyst Weigh In

CLSD has been the topic of several research reports. HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Clearside Biomedical in a report on Tuesday, August 27th. StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Needham & Company LLC increased their price objective on shares of Clearside Biomedical from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $5.17.

Institutional Trading of Clearside Biomedical

Hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. acquired a new stake in shares of Clearside Biomedical during the second quarter worth approximately $368,000. Vanguard Group Inc. boosted its holdings in Clearside Biomedical by 14.5% in 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 during the period. SG Americas Securities LLC acquired a new position in Clearside Biomedical in the first quarter worth $49,000. XTX Topco Ltd boosted its holdings in Clearside Biomedical by 172.2% in the second quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock worth $71,000 after purchasing an additional 34,359 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Clearside Biomedical by 6.6% in the second quarter. Renaissance Technologies LLC now owns 582,689 shares of the company’s stock worth $757,000 after purchasing an additional 35,900 shares during the period. Institutional investors and hedge funds 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.