Clearside Biomedical, Inc. (CLSD) Position Boosted by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC boosted its holdings in Clearside Biomedical, Inc. (NASDAQ:CLSD) by 189.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,741 shares of the company’s stock after buying an additional 36,484 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.22% of Clearside Biomedical worth $508,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of CLSD. Wells Fargo & Company MN increased its holdings in Clearside Biomedical by 325.0% in the first quarter. Wells Fargo & Company MN now owns 16,739 shares of the company’s stock valued at $133,000 after buying an additional 12,800 shares during the last quarter. State of Wisconsin Investment Board purchased a new position in Clearside Biomedical in the second quarter valued at $137,000. JPMorgan Chase & Co. purchased a new position in shares of Clearside Biomedical during the first quarter worth about $178,000. Rhumbline Advisers purchased a new position in shares of Clearside Biomedical during the second quarter worth about $198,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Clearside Biomedical by 10.8% during the first quarter. Bank of New York Mellon Corp now owns 34,823 shares of the company’s stock worth $277,000 after purchasing an additional 3,404 shares during the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Clay Thorp sold 35,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $7.00, for a total transaction of $245,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Daniel H. White sold 8,000 shares of the firm’s stock in a transaction dated Thursday, October 19th. The stock was sold at an average price of $7.82, for a total value of $62,560.00. Following the transaction, the insider now directly owns 477,935 shares in the company, valued at approximately $3,737,451.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,000 shares of company stock worth $1,126,955. Corporate insiders own 20.90% of the company’s stock.
Several brokerages have issued reports on CLSD. ValuEngine lowered Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. TheStreet lowered Clearside Biomedical from a “c-” rating to a “d” rating in a report on Friday, August 11th. Cowen and Company reaffirmed a “buy” rating on shares of Clearside Biomedical in a report on Wednesday, October 25th. Finally, Zacks Investment Research raised Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.33.
Clearside Biomedical, Inc. (NASDAQ:CLSD) opened at $7.09 on Friday. The company has a current ratio of 4.57, a quick ratio of 4.57 and a debt-to-equity ratio of 0.15. Clearside Biomedical, Inc. has a twelve month low of $5.44 and a twelve month high of $24.73.
Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Wednesday, November 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.55) by ($0.17). Clearside Biomedical had a negative return on equity of 90.72% and a negative net margin of 17,684.07%. The company had revenue of $0.16 million for the quarter, compared to analysts’ expectations of $0.01 million. research analysts anticipate that Clearside Biomedical, Inc. will post -2.33 earnings per share for the current year.
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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