Clay Thorp Acquires 8,000 Shares of Clearside Biomedical Inc (CLSD) Stock

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Clearside Biomedical Inc (NASDAQ:CLSD) Director Clay Thorp acquired 8,000 shares of the company’s stock in a transaction on Thursday, December 6th. The stock was acquired at an average cost of $1.36 per share, for a total transaction of $10,880.00. Following the completion of the acquisition, the director now owns 8,000 shares of the company’s stock, valued at approximately $10,880. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of NASDAQ:CLSD opened at $1.37 on Friday. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.22. Clearside Biomedical Inc has a 1 year low of $1.31 and a 1 year high of $15.33.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings results on Thursday, November 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($0.12). As a group, equities analysts anticipate that Clearside Biomedical Inc will post -2.57 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of CLSD. Voya Investment Management LLC purchased a new position in Clearside Biomedical during the second quarter worth approximately $123,000. Bank of America Corp DE lifted its position in Clearside Biomedical by 915.6% during the second quarter. Bank of America Corp DE now owns 16,574 shares of the company’s stock worth $177,000 after buying an additional 14,942 shares in the last quarter. Trexquant Investment LP purchased a new position in Clearside Biomedical during the third quarter worth approximately $188,000. Engineers Gate Manager LP purchased a new position in Clearside Biomedical during the third quarter worth approximately $202,000. Finally, Renaissance Technologies LLC purchased a new position in Clearside Biomedical during the third quarter worth approximately $216,000. 57.94% of the stock is currently owned by hedge funds and other institutional investors.

CLSD has been the topic of several research analyst reports. ValuEngine raised Clearside Biomedical from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th. Needham & Company LLC set a $4.00 price target on Clearside Biomedical and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Laidlaw set a $5.00 price target on Clearside Biomedical and gave the stock a “buy” rating in a research note on Tuesday, November 6th. JPMorgan Chase & Co. lowered Clearside Biomedical from an “overweight” rating to an “underweight” rating in a research note on Monday, November 5th. Finally, Janney Montgomery Scott set a $4.00 price target on Clearside Biomedical and gave the stock a “buy” rating in a research note on Tuesday, November 6th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.71.

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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.

See Also: Diversification

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