Clearside Biomedical (NASDAQ:CLSD) Stock Price Crosses Below 50 Day Moving Average - Time to Sell?

Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report)'s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $0.84 and traded as low as $0.73. Clearside Biomedical shares last traded at $0.74, with a volume of 248,107 shares changing hands.

Analyst Upgrades and Downgrades

CLSD has been the topic of several research reports. Wall Street Zen upgraded shares of Clearside Biomedical from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. HC Wainwright lowered their price objective on shares of Clearside Biomedical from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Friday, May 23rd. Needham & Company LLC lowered their price objective on shares of Clearside Biomedical from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. JMP Securities reaffirmed a "market outperform" rating and set a $5.00 target price on shares of Clearside Biomedical in a report on Friday, May 16th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Clearside Biomedical currently has an average rating of "Moderate Buy" and a consensus target price of $4.80.

Clearside Biomedical Trading Up 2.0%

The business's 50 day moving average price is $0.84 and its two-hundred day moving average price is $0.93. The stock has a market cap of $60.22 million, a P/E ratio of -1.72 and a beta of 2.11.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates 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. As a group, analysts expect that Clearside Biomedical, Inc. will post -0.48 earnings per share for the current year.

Institutional Investors Weigh In On Clearside Biomedical

A number of large investors have recently modified their holdings of CLSD. Investor s Fiduciary Advisor Network LLC purchased a new position in Clearside Biomedical during the fourth quarter valued at $32,000. Northern Trust Corp increased its stake in 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 purchasing an additional 32,048 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in 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 purchasing an additional 32,672 shares in the last quarter. 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.