Clearside Biomedical (NASDAQ:CLSD) Share Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Clearside Biomedical, Inc. (NASDAQ:CLSD) shares crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.95 and traded as low as $0.82. Clearside Biomedical shares last traded at $0.86, with a volume of 96,870 shares.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday, March 6th. HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research report on Thursday, March 6th. Chardan Capital reissued a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research report on Friday, November 15th. 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 analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.75.

Clearside Biomedical Stock Up 3.3 %

The firm has a market capitalization of $67.48 million, a price-to-earnings ratio of -1.98 and a beta of 2.10. The firm’s 50 day moving average is $0.95 and its 200 day moving average is $1.05.

Institutional Trading of Clearside Biomedical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in 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 last quarter. Northern Trust Corp lifted its position in shares of Clearside Biomedical by 24.0% in 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 in the last quarter. Johnson & Johnson purchased a new stake in shares of Clearside Biomedical in the 3rd quarter valued at approximately $105,000. Finally, Investor s Fiduciary Advisor Network LLC purchased a new stake in shares of Clearside Biomedical in the 4th quarter valued at approximately $32,000. 18.75% of the stock is owned by institutional investors and hedge funds.

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.