Clearside Biomedical (NASDAQ:CLSD) Downgraded to “Sell” Rating by StockNews.com

Clearside Biomedical (NASDAQ:CLSD) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

CLSD has been the topic of a number of other research reports. Needham & Company LLC restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Thursday, March 6th. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.75.

Clearside Biomedical Price Performance

Shares of CLSD traded up $0.08 during mid-day trading on Tuesday, reaching $0.97. The company’s stock had a trading volume of 102,590 shares, compared to its average volume of 361,653. Clearside Biomedical has a 12-month low of $0.77 and a 12-month high of $1.80. The stock has a market cap of $73.57 million, a PE ratio of -2.16 and a beta of 2.10. The company’s 50 day moving average is $0.95 and its 200 day moving average is $1.05.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp raised its holdings in Clearside Biomedical by 24.0% during the fourth quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after purchasing an additional 32,048 shares during the last quarter. Geode Capital Management LLC increased its position in Clearside Biomedical by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock worth $726,000 after buying an additional 32,672 shares in the last quarter. Investor s Fiduciary Advisor Network LLC purchased a new position in Clearside Biomedical during the fourth quarter worth $32,000. Finally, Johnson & Johnson purchased a new position in Clearside Biomedical during the third quarter worth $105,000. 18.75% of the stock is currently owned by hedge funds and other institutional investors.

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.