Clearside Biomedical (NASDAQ:CLSD) Director Clay Thorp sold 161,139 shares of the company’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $13.08, for a total transaction of $2,107,698.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
CLSD stock opened at $13.17 on Tuesday. The firm has a market capitalization of $415.95 million, a PE ratio of -5.65 and a beta of -7.02. The company has a current ratio of 7.46, a quick ratio of 7.46 and a debt-to-equity ratio of 0.05. Clearside Biomedical has a 12 month low of $5.30 and a 12 month high of $15.06.
Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings data on Wednesday, May 9th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.05). Clearside Biomedical had a negative net margin of 17,094.20% and a negative return on equity of 131.37%. research analysts expect that Clearside Biomedical will post -2.36 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in CLSD. Millennium Management LLC boosted its holdings in shares of Clearside Biomedical by 5,396.6% in the 1st quarter. Millennium Management LLC now owns 1,397,732 shares of the company’s stock valued at $14,998,000 after acquiring an additional 1,372,303 shares during the last quarter. Sphera Funds Management LTD. boosted its holdings in Clearside Biomedical by 128.9% during the first quarter. Sphera Funds Management LTD. now owns 1,030,000 shares of the company’s stock worth $11,052,000 after buying an additional 580,000 shares in the last quarter. BlackRock Inc. boosted its holdings in Clearside Biomedical by 23.6% during the first quarter. BlackRock Inc. now owns 1,214,656 shares of the company’s stock worth $13,033,000 after buying an additional 231,531 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Clearside Biomedical during the first quarter worth $1,912,000. Finally, JPMorgan Chase & Co. boosted its holdings in Clearside Biomedical by 3,104.2% during the first quarter. JPMorgan Chase & Co. now owns 142,941 shares of the company’s stock worth $1,534,000 after buying an additional 138,480 shares in the last quarter. 61.12% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have issued reports on CLSD shares. Wedbush restated a “buy” rating on shares of Clearside Biomedical in a research note on Wednesday, February 7th. Needham & Company LLC upped their price objective on shares of Clearside Biomedical from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, March 6th. Zacks Investment Research downgraded shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. JPMorgan Chase reaffirmed an “overweight” rating and issued a $18.00 price objective (up from $15.00) on shares of Clearside Biomedical in a report on Tuesday, March 6th. Finally, JMP Securities reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Clearside Biomedical in a report on Monday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $20.80.
Clearside Biomedical Company Profile
Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to treat blinding diseases of the eye. It is developing suprachoroidal injection of CLS-TA, a proprietary preservative-free formulation of the corticosteroid triamcinolone acetonide, which is in Phase III clinical trial for the treatment of macular edema associated with non-infectious uveitis; suprachoroidal injection of CLS-TA and a concomitant intravitreal injection of Eylea, an inhibitor of vascular endothelial growth factor that is in Phase III clinical trial to treat macular edema associated with retinal vein occlusion; and suprachoroidal injection of CLS-TA alone or together with intravitreal injection of Eylea that is in phase II clinical trial for diabetic macular edema.
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