Clearside Biomedical Inc (CLSD) Short Interest Update

Clearside Biomedical Inc (NASDAQ:CLSD) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 793,009 shares, a decline of 37.6% from the October 31st total of 1,271,334 shares. Based on an average daily volume of 1,380,584 shares, the days-to-cover ratio is currently 0.6 days. Currently, 2.9% of the shares of the stock are short sold.

CLSD opened at $1.52 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.59 and a quick ratio of 4.59. The stock has a market capitalization of $47.08 million, a price-to-earnings ratio of -0.65 and a beta of -4.24. Clearside Biomedical has a 12 month low of $1.40 and a 12 month high of $15.33.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Thursday, November 8th. The company reported ($0.75) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.12). As a group, sell-side analysts forecast that Clearside Biomedical will post -2.57 EPS for the current fiscal year.

Several research analysts recently weighed in on the stock. Laidlaw set a $5.00 target price on shares of Clearside Biomedical and gave the company a “buy” rating in a research note on Tuesday, November 6th. Janney Montgomery Scott set a $4.00 target price on shares of Clearside Biomedical and gave the company a “buy” rating in a research note on Tuesday, November 6th. Needham & Company LLC set a $4.00 price target on Clearside Biomedical and gave the company a “buy” rating in a report on Tuesday, November 6th. ValuEngine upgraded Clearside Biomedical from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $4.00 price target (down previously from $20.00) on shares of Clearside Biomedical in a report on Monday, November 5th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $12.71.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Clearside Biomedical by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,255,662 shares of the company’s stock valued at $7,723,000 after buying an additional 27,178 shares during the period. Nexthera Capital LP purchased a new stake in Clearside Biomedical in the 3rd quarter valued at about $1,113,000. Signaturefd LLC grew its holdings in Clearside Biomedical by 743.5% in the 3rd quarter. Signaturefd LLC now owns 58,326 shares of the company’s stock valued at $359,000 after buying an additional 51,411 shares during the period. Sofinnova Ventures Inc grew its holdings in Clearside Biomedical by 40.2% in the 3rd quarter. Sofinnova Ventures Inc now owns 606,914 shares of the company’s stock valued at $3,732,000 after buying an additional 174,010 shares during the period. Finally, Sphera Funds Management LTD. grew its holdings in Clearside Biomedical by 8.0% in the 3rd quarter. Sphera Funds Management LTD. now owns 1,154,690 shares of the company’s stock valued at $7,101,000 after buying an additional 85,970 shares during the period. Institutional investors own 57.94% of the company’s stock.

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About Clearside Biomedical

Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to treat blinding diseases of the eye. It is developing suprachoroidal injection of CLS-TA, a proprietary preservative-free formulation of the corticosteroid triamcinolone acetonide, which is in Phase III clinical trial for the treatment of macular edema associated with non-infectious uveitis; suprachoroidal injection of CLS-TA and a concomitant intravitreal injection of Eylea, an inhibitor of vascular endothelial growth factor that is in Phase III clinical trial to treat macular edema associated with retinal vein occlusion; and suprachoroidal injection of CLS-TA alone or together with intravitreal injection of Eylea that is in phase II clinical trial for diabetic macular edema.

Further Reading: Price to Earnings Ratio (PE) Basics

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