Clearside Biomedical (NASDAQ:CLSD) Shares Cross Below 50 Day Moving Average - Should You Sell?

Shares of Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $0.88 and traded as low as $0.82. Clearside Biomedical shares last traded at $0.83, with a volume of 43,485 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Chardan Capital reaffirmed a "buy" rating and set a $6.00 price objective on shares of Clearside Biomedical in a research note on Friday, March 28th. HC Wainwright restated a "buy" rating and set a $6.00 target price on shares of Clearside Biomedical in a research report on Monday, March 31st. StockNews.com upgraded shares of Clearside Biomedical from a "sell" rating to a "hold" rating in a research report on Friday, April 25th. Finally, Needham & Company LLC reissued a "buy" rating and set a $4.00 price objective on shares of Clearside Biomedical in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $5.25.

Clearside Biomedical Price Performance

The business has a 50 day simple moving average of $0.88 and a 200-day simple moving average of $0.97. The stock has a market capitalization of $67.21 million, a price-to-earnings ratio of -1.93 and a beta of 2.11.

Clearside Biomedical (NASDAQ:CLSD - Get Free Report) last issued its quarterly earnings data on Thursday, March 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.03. The business had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.27 million. As a group, equities analysts predict that Clearside Biomedical, Inc. will post -0.48 earnings per share for the current year.

Institutional Investors Weigh In On Clearside Biomedical

Several large investors have recently made changes to their positions in CLSD. Geode Capital Management LLC boosted its stake in Clearside Biomedical by 8.8% in the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company's stock worth $929,000 after purchasing an additional 59,089 shares during the period. Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Clearside Biomedical during the fourth quarter worth about $32,000. Finally, Northern Trust Corp grew its holdings in shares of Clearside Biomedical by 24.0% during the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company's stock worth $157,000 after buying an additional 32,048 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.