Clearside Biomedical (NASDAQ:CLSD) Shares Cross Below 50-Day Moving Average of $1.45

Clearside Biomedical, Inc. (NASDAQ:CLSD)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.45 and traded as low as $1.25. Clearside Biomedical shares last traded at $1.27, with a volume of 84,686 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CLSD shares. JMP Securities reiterated a “market outperform” rating and issued a $5.00 target price on shares of Clearside Biomedical in a research report on Wednesday, March 13th. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Thursday, March 14th. Needham & Company LLC reissued a “buy” rating and set a $4.00 price target on shares of Clearside Biomedical in a research note on Thursday, April 11th. StockNews.com raised Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. Finally, Wedbush restated an “outperform” rating and set a $4.00 price objective (down previously from $5.00) on shares of Clearside Biomedical in a report on Wednesday, March 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Clearside Biomedical currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.75.

Clearside Biomedical Price Performance

The stock has a market cap of $94.89 million, a P/E ratio of -2.40 and a beta of 2.29. The company has a fifty day moving average price of $1.45 and a 200 day moving average price of $1.23.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.02. The company had revenue of $6.35 million for the quarter, compared to the consensus estimate of $3.40 million. As a group, sell-side analysts expect that Clearside Biomedical, Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Bradford T. Whitmore purchased 444,444 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was acquired at an average price of $1.35 per share, for a total transaction of $599,999.40. Following the completion of the acquisition, the insider now owns 4,495,034 shares of the company’s stock, valued at approximately $6,068,295.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Clearside Biomedical news, major shareholder Bradford T. Whitmore acquired 444,444 shares of Clearside Biomedical stock in a transaction on Wednesday, February 7th. The stock was purchased at an average price of $1.35 per share, for a total transaction of $599,999.40. Following the purchase, the insider now directly owns 4,495,034 shares of the company’s stock, valued at $6,068,295.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ngai Hang Victor Chong acquired 30,000 shares of Clearside Biomedical stock in a transaction on Wednesday, March 20th. The stock was acquired at an average price of $1.60 per share, with a total value of $48,000.00. Following the purchase, the insider now directly owns 30,000 shares in the company, valued at $48,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 481,154 shares of company stock worth $656,387. 9.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Clearside Biomedical stock. Rosalind Advisors Inc. purchased a new stake in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,592,593 shares of the company’s stock, valued at approximately $3,967,000. Clearside Biomedical comprises about 3.7% of Rosalind Advisors Inc.’s holdings, making the stock its 13th largest holding. Rosalind Advisors Inc. owned 3.47% of Clearside Biomedical at the end of the most recent reporting 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.