Clearside Biomedical (NASDAQ:CLSD) Shares Pass Below Fifty Day Moving Average – What’s Next?

Clearside Biomedical, Inc. (NASDAQ:CLSD)’s stock price 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 changing hands.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CLSD shares. Needham & Company LLC reiterated a “buy” rating and issued a $4.00 price objective on shares of Clearside Biomedical in a research report on Tuesday, April 8th. StockNews.com upgraded shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Friday. Chardan Capital reissued a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a report on Friday, March 28th. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research report on Monday, March 31st. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.25.

Clearside Biomedical Stock Down 1.0 %

The stock has a market capitalization of $64.37 million, a price-to-earnings ratio of -1.85 and a beta of 2.04. The business has a 50-day simple moving average of $0.88 and a two-hundred day simple moving average of $0.97.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $0.27 million. On average, analysts forecast that Clearside Biomedical, Inc. will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Clearside Biomedical

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in shares of Clearside Biomedical by 8.8% during the 3rd quarter. Geode Capital Management LLC now owns 731,386 shares of the company’s stock valued at $929,000 after acquiring an additional 59,089 shares during the last quarter. Northern Trust Corp lifted 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 during the last quarter. Finally, Investor s Fiduciary Advisor Network LLC purchased a new stake in shares of Clearside Biomedical in the fourth quarter valued at $32,000. Institutional investors and hedge funds own 18.75% of the company’s stock.

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.