Clearside Biomedical (NASDAQ:CLSD) Share Price Passes Above 50 Day Moving Average – Time to Sell?

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $0.97 and traded as high as $1.07. Clearside Biomedical shares last traded at $1.07, with a volume of 112,624 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CLSD shares. StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Wednesday, November 13th. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research report on Thursday, November 14th. Finally, Chardan Capital reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $5.33.

Clearside Biomedical Stock Up 5.9 %

The firm has a fifty day moving average of $0.97 and a two-hundred day moving average of $1.07.

Institutional Trading of Clearside Biomedical

Several institutional investors and hedge funds have recently made changes to their positions in CLSD. Johnson & Johnson bought a new stake in shares of Clearside Biomedical in the third quarter valued at about $105,000. Geode Capital Management LLC raised its holdings in shares of Clearside Biomedical by 8.8% in 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. Finally, Northern Trust Corp raised its holdings in Clearside Biomedical by 24.0% in the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after purchasing an additional 32,048 shares in the last quarter. 18.75% of the stock is currently owned by institutional investors.

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.