Insider Buying: Clearside Biomedical, Inc. (NASDAQ:CLSD) Insider Purchases $24,910.00 in Stock

Clearside Biomedical, Inc. (NASDAQ:CLSD) insider Ngai Hang Victor Chong acquired 23,500 shares of the business’s stock in a transaction on Monday, June 24th. The shares were bought at an average price of $1.06 per share, for a total transaction of $24,910.00. Following the acquisition, the insider now owns 63,500 shares in the company, valued at approximately $67,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Clearside Biomedical Price Performance

NASDAQ CLSD opened at $1.21 on Thursday. The company has a 50 day simple moving average of $1.28 and a 200-day simple moving average of $1.33. Clearside Biomedical, Inc. has a 52-week low of $0.65 and a 52-week high of $2.12.

Clearside Biomedical (NASDAQ:CLSD) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.03). The firm had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.98 million. During the same period last year, the business earned ($0.15) earnings per share. Research analysts predict that Clearside Biomedical, Inc. will post -0.63 EPS for the current fiscal year.

Institutional Trading of Clearside Biomedical

A number of hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in Clearside Biomedical in the first quarter worth approximately $57,000. Rosalind Advisors Inc. acquired a new position in Clearside Biomedical in the first quarter worth approximately $3,967,000. SG Americas Securities LLC acquired a new position in Clearside Biomedical in the first quarter worth approximately $49,000. Finally, Vanguard Group Inc. increased its holdings in Clearside Biomedical by 14.5% in the first quarter. Vanguard Group Inc. now owns 2,490,796 shares of the company’s stock worth $3,811,000 after buying an additional 314,480 shares during the last quarter. 18.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CLSD has been the subject of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and set a $4.00 price objective (down from $5.00) on shares of Clearside Biomedical in a research note on Wednesday, March 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $4.00 price objective on shares of Clearside Biomedical in a research note on Monday, May 13th. StockNews.com lowered shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. Oppenheimer initiated coverage on shares of Clearside Biomedical in a research note on Tuesday. They set an “outperform” rating and a $5.00 price objective for the company. Finally, HC Wainwright reduced their price objective on shares of Clearside Biomedical from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.60.

Clearside Biomedical Company Profile

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.