Clearside Biomedical (NASDAQ:CLSD) Shares Pass Below Fifty Day Moving Average - Here's Why

Clearside Biomedical, Inc. (NASDAQ:CLSD - Get Free Report) shares crossed 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.

Analysts Set New Price Targets

CLSD has been the subject of several research reports. HC Wainwright reaffirmed a "buy" rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Monday, March 31st. Needham & Company LLC reissued a "buy" rating and issued a $4.00 price objective on shares of Clearside Biomedical in a report on Tuesday, April 8th. StockNews.com raised Clearside Biomedical from a "sell" rating to a "hold" rating in a report on Friday, April 25th. Finally, Chardan Capital reissued a "buy" rating and issued a $6.00 price objective on shares of Clearside Biomedical in a report on Friday, March 28th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Clearside Biomedical presently has a consensus rating of "Moderate Buy" and a consensus target price of $5.25.

Clearside Biomedical Price Performance

The stock has a market capitalization of $65.69 million, a P/E ratio of -1.89 and a beta of 2.04. The stock's 50-day simple moving average is $0.88 and its 200 day simple moving average is $0.97.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Investor s Fiduciary Advisor Network LLC bought a new position in Clearside Biomedical in the 4th quarter valued at about $32,000. Northern Trust Corp raised its holdings in Clearside Biomedical by 24.0% in 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 during the period. Finally, Geode Capital Management LLC raised its holdings in Clearside Biomedical by 4.5% in 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 during the period. 18.75% of the stock is owned by institutional investors.

Clearside Biomedical Company Profile

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.