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

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the recipient of a significant growth in short interest during 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. Approximately 1.1% of the shares of the company are short sold. Based on an average daily volume of 258,500 shares, the days-to-cover ratio is currently 3.0 days.

Clearside Biomedical Stock Down 3.3 %

CLSD stock opened at $0.86 on Monday. The stock has a market cap of $65.23 million, a PE ratio of -1.91 and a beta of 2.10. The firm’s 50-day simple moving average is $0.95 and its 200 day simple moving average is $1.05. Clearside Biomedical has a fifty-two week low of $0.77 and a fifty-two week high of $1.80.

Institutional Investors Weigh In On Clearside Biomedical

Hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings 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 purchasing an additional 59,089 shares during the period. Johnson & Johnson bought a new stake in Clearside Biomedical in the third quarter worth about $105,000. Northern Trust Corp lifted its stake in Clearside Biomedical by 24.0% during the fourth 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 during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC bought a new stake in shares of Clearside Biomedical during the 4th quarter worth $32,000. Institutional investors own 18.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CLSD has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research note on Thursday, March 6th. Needham & Company LLC reiterated a “buy” rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, March 6th. Finally, StockNews.com upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $5.75.

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.