Clearside Biomedical, Inc. (NASDAQ:CLSD) Short Interest Up 34.3% in February

Clearside Biomedical, Inc. (NASDAQ:CLSD) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 767,400 shares, an increase of 34.3% from the February 13th total of 571,300 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily volume of 258,500 shares, the days-to-cover ratio is currently 3.0 days.

Analyst Upgrades and Downgrades

CLSD has been the topic of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, March 6th. Needham & Company LLC reissued a “buy” rating and issued a $6.00 price objective on shares of Clearside Biomedical in a research note on Thursday, March 6th. Finally, StockNews.com raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Clearside Biomedical currently has an average rating of “Moderate Buy” and an average target price of $5.75.

Hedge Funds Weigh In On Clearside Biomedical

Institutional investors have recently made changes to their positions in the stock. Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Clearside Biomedical during the fourth quarter valued at about $32,000. Johnson & Johnson acquired a new position in shares of Clearside Biomedical during the third quarter valued at about $105,000. Northern Trust Corp raised 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 valued at $157,000 after purchasing an additional 32,048 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Clearside Biomedical by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock valued at $726,000 after purchasing an additional 32,672 shares during the period. Institutional investors and hedge funds own 18.75% of the company’s stock.

Clearside Biomedical Stock Up 7.9 %

CLSD traded up $0.07 during trading on Tuesday, reaching $0.96. 74,509 shares of the stock traded hands, compared to its average volume of 363,538. The stock’s 50-day moving average is $0.95 and its 200 day moving average is $1.05. Clearside Biomedical has a 12 month low of $0.77 and a 12 month high of $1.80. The stock has a market capitalization of $72.81 million, a PE ratio of -2.13 and a beta of 2.10.

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.