Short Interest in Clearside Biomedical, Inc. (NASDAQ:CLSD) Declines By 44.2%

Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) was the target of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 124,200 shares, a drop of 44.2% from the May 15th total of 222,400 shares. Based on an average daily trading volume, of 228,300 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.2% of the shares of the company are sold short.

Clearside Biomedical Stock Performance

Shares of NASDAQ:CLSD traded down $0.01 on Friday, hitting $0.80. 186,766 shares of the company were exchanged, compared to its average volume of 362,696. The company's 50 day moving average price is $0.83 and its two-hundred day moving average price is $0.91. Clearside Biomedical has a one year low of $0.70 and a one year high of $1.65. The firm has a market capitalization of $62.17 million, a price-to-earnings ratio of -1.78 and a beta of 2.06.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.01. The company had revenue of $2.33 million for the quarter, compared to the consensus estimate of $0.20 million. Research analysts predict that Clearside Biomedical will post -0.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Needham & Company LLC lowered their target price on shares of Clearside Biomedical from $4.00 to $3.00 and set a "buy" rating on the stock in a research note on Thursday, May 15th. Wall Street Zen upgraded shares of Clearside Biomedical from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. Chardan Capital reiterated a "buy" rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Friday, March 28th. HC Wainwright lowered their target price on shares of Clearside Biomedical from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Friday, May 23rd. Finally, JMP Securities reiterated a "market outperform" rating and issued a $5.00 target price on shares of Clearside Biomedical in a research note on Friday, May 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Clearside Biomedical presently has an average rating of "Moderate Buy" and an average target price of $4.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CLSD. Geode Capital Management LLC boosted its position in shares of Clearside Biomedical by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 764,058 shares of the company's stock valued at $726,000 after acquiring an additional 32,672 shares in the last quarter. Northern Trust Corp boosted its position in shares of Clearside Biomedical by 24.0% during the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company's stock valued at $157,000 after acquiring an additional 32,048 shares in the last quarter. Finally, Investor s Fiduciary Advisor Network LLC acquired a new stake in shares of Clearside Biomedical during the 4th quarter valued at about $32,000. Institutional investors 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.