Insider Purchase at Clearside Biomedical, Inc. (NASDAQ:CLSD)

On November 1st, Ngai Hang Victor Chong, an insider at Clearside Biomedical, Inc. (NASDAQ:CLSD), made a significant investment by purchasing 36,500 shares of the company's stock at an average price of $1.00 per share. This transaction totaled $36,500. Following this acquisition, Chong now holds 100,000 shares in the company, reflecting a total investment value of approximately $100,000. Notably, this transaction represents no change in Chong's overall ownership percentage in the company.

The details of this transaction were filed with the SEC and can be accessed via the SEC's official database.

Current Stock Performance

As of midday trading on Monday, shares of NASDAQ:CLSD rose by $0.02, reaching a price of $1.03. In comparison, the average trading volume for the stock is around 406,186 shares, with 248,841 shares traded that day. Clearside Biomedical has experienced a one-year price range with a low of $0.76 and a high of $2.12. The stock currently has a 50-day moving average of $1.17 and a 200-day moving average of $1.20. Additionally, the company's market capitalization is approximately $76.97 million, with a price-to-earnings ratio of -2.01 and a beta of 2.33.

Recent Earnings Results

Clearside Biomedical reported its most recent earnings on August 12th. The company indicated that it had earnings per share (EPS) of ($0.10) for the quarter, which exceeded analysts' forecasts that anticipated a loss of ($0.14) by $0.04. The revenue generated during this period was $0.09 million, falling short of projections that had estimated $0.25 million. In the same timeframe last year, the company recorded an EPS of ($0.15). Analysts are forecasting that Clearside Biomedical will have an EPS of -0.56 for the current fiscal year.

Analyst Rating Updates

Recent analysis of CLSD shares from various research firms has led to several updates. Chardan Capital has reiterated a "buy" rating while assigning a target price of $6.00 on shares of Clearside Biomedical as noted in a research report on October 14th. Needham & Company LLC also raised their target price from $4.00 to $6.00, maintaining a "buy" rating in a report from October 10th. Furthermore, HC Wainwright affirmed a "buy" rating with a target price of $5.00 in their analysis on August 27th. Meanwhile, StockNews.com upgraded their rating from "sell" to "hold" as of October 18th. Currently, one analyst has assigned a hold rating, while six analysts categorize it as a buy, resulting in a consensus rating of "Moderate Buy" with an average target price set at $5.17.

Institutional Investment Trends

A number of institutional investors have made updates to their stakes in Clearside Biomedical recently. For instance, SG Americas Securities LLC acquired a new stake worth approximately $49,000 during the first quarter. XTX Topco Ltd increased their holdings by 172.2% during the second quarter, now owning 54,313 shares worth $71,000 after purchasing 34,359 shares. Similarly, Renaissance Technologies LLC raised its stakes by 6.6% in the second quarter, holding 582,689 shares valued at $757,000 after buying an additional 35,900 shares. Assenagon Asset Management S.A. also initiated a new position in the second quarter worth around $368,000. Notably, Vanguard Group Inc. enhanced its aforementioned holdings by 14.5% in the first quarter, currently possessing 2,490,796 shares valued at approximately $3,811,000. It is estimated that institutional investors collectively own about 18.75% of Clearside Biomedical's stock.

About Clearside Biomedical, Inc.

Clearside Biomedical, Inc. is a biopharmaceutical company dedicated to innovating the delivery of treatments to the back of the eye through the suprachoroidal space. The company offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension designed to treat uveitis macular edema. Additionally, it is developing CLS-AX, an axitinib injectable suspension for suprachoroidal use, currently undergoing Phase IIb clinical trials for the treatment of wet AMD.

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