Clearside Biomedical, Inc. (NASDAQ:CLSD) released its earnings results on Wednesday. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.13, MarketWatch Earnings reports. Clearside Biomedical had a negative return on equity of 53.20% and a negative net margin of 154,030.02%. The business had revenue of $0.13 million for the quarter.
Shares of Clearside Biomedical (NASDAQ:CLSD) traded down 3.857% during trading on Thursday, hitting $6.855. 180,720 shares of the stock were exchanged. The stock’s market cap is $173.43 million. Clearside Biomedical has a 52 week low of $5.44 and a 52 week high of $25.08. The firm’s 50 day moving average price is $9.12 and its 200-day moving average price is $8.04.
A number of research firms have commented on CLSD. ValuEngine lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Thursday. Cowen and Company reissued a “buy” rating on shares of Clearside Biomedical in a research report on Monday. Zacks Investment Research cut shares of Clearside Biomedical from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. JMP Securities started coverage on shares of Clearside Biomedical in a research report on Thursday, May 25th. They set an “outperform” rating and a $21.00 price target on the stock. Finally, Wedbush reissued an “outperform” rating and set a $27.00 price target on shares of Clearside Biomedical in a research report on Thursday, April 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. Clearside Biomedical has an average rating of “Buy” and a consensus target price of $19.00.
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In other Clearside Biomedical news, Director Clay Thorp sold 44,485 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $8.63, for a total value of $383,905.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Daniel H. White sold 3,600 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $7.78, for a total transaction of $28,008.00. Following the completion of the sale, the chief executive officer now owns 504,067 shares of the company’s stock, valued at $3,921,641.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 159,170 shares of company stock valued at $1,342,339. 20.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in Clearside Biomedical by 31.6% in the first quarter. Wellington Management Group LLP now owns 2,164,703 shares of the company’s stock worth $17,187,000 after buying an additional 520,403 shares during the last quarter. AWM Investment Company Inc. boosted its stake in Clearside Biomedical by 173.0% in the first quarter. AWM Investment Company Inc. now owns 341,217 shares of the company’s stock worth $2,709,000 after buying an additional 216,217 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Clearside Biomedical during the first quarter worth approximately $1,720,000. MARSHALL WACE ASIA Ltd bought a new stake in Clearside Biomedical during the first quarter worth approximately $1,720,000. Finally, Renaissance Technologies LLC bought a new stake in Clearside Biomedical during the first quarter worth approximately $604,000. Institutional investors and hedge funds own 49.67% of the company’s stock.
About Clearside Biomedical
Clearside Biomedical, Inc is a clinical biopharmaceutical company developing first-in-class drug therapies to treat blinding diseases of the eye. The Company’s product candidates focus on diseases affecting the retina, which is the tissue that lines the inside of the eye and is primarily responsible for vision, and the choroid, which is the layer adjacent to the retina that supplies the retina with blood, oxygen and nourishment.
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