Short Interest in Clearside Biomedical, Inc. (NASDAQ:CLSD) Increases By 646.6%

Clearside Biomedical, Inc. (NASDAQ:CLSD) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 1,950,000 shares, a growth of 646.6% from the September 30th total of 261,200 shares. Based on an average daily volume of 718,700 shares, the days-to-cover ratio is presently 2.7 days.

Clearside Biomedical Stock Performance

Shares of CLSD stock remained flat at $1.10 during trading hours on Friday. The stock had a trading volume of 390,032 shares, compared to its average volume of 408,453. The stock has a market cap of $82.20 million, a PE ratio of -2.00 and a beta of 2.35. Clearside Biomedical has a 1-year low of $0.65 and a 1-year high of $2.12. The firm has a 50-day moving average price of $1.17 and a two-hundred day moving average price of $1.21.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. The business had revenue of $0.09 million for the quarter, compared to analyst estimates of $0.25 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. On average, equities analysts expect that Clearside Biomedical will post -0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. acquired a new stake in Clearside Biomedical during the 2nd quarter worth $368,000. Vanguard Group Inc. lifted its stake in Clearside Biomedical by 14.5% during 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 in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Clearside Biomedical during the first quarter worth $57,000. XTX Topco Ltd raised its holdings in shares of Clearside Biomedical by 172.2% in the 2nd quarter. XTX Topco Ltd now owns 54,313 shares of the company’s stock valued at $71,000 after buying an additional 34,359 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Clearside Biomedical in the 1st quarter valued at about $49,000. 18.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.