Clearside Biomedical (NASDAQ:CLSD) Share Price Passes Below Fifty Day Moving Average – What’s Next?

Clearside Biomedical, Inc. (NASDAQ:CLSD) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $4.14 and traded as low as $3.66. Clearside Biomedical shares last traded at $3.80, with a volume of 31,429 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CLSD shares. Chardan Capital downgraded shares of Clearside Biomedical from a “buy” rating to a “neutral” rating in a research report on Friday, July 18th. HC Wainwright downgraded shares of Clearside Biomedical from a “buy” rating to a “neutral” rating and set a $75.00 price objective on the stock. in a report on Friday, July 18th. Weiss Ratings began coverage on shares of Clearside Biomedical in a research report on Saturday, November 1st. They issued a “sell (e+)” rating on the stock. Stifel Nicolaus cut shares of Clearside Biomedical from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Friday, July 18th. Finally, Wall Street Zen upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Clearside Biomedical currently has an average rating of “Hold” and a consensus price target of $63.00.

Clearside Biomedical Stock Up 0.7%

The firm has a market capitalization of $20.03 million, a P/E ratio of -0.69 and a beta of 2.04. The firm’s 50-day simple moving average is $4.14 and its 200-day simple moving average is $8.05.

Institutional Trading of Clearside Biomedical

An institutional investor recently bought a new position in Clearside Biomedical stock. Apollon Wealth Management LLC purchased a new stake in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 23,586 shares of the company’s stock, valued at approximately $94,000. Apollon Wealth Management LLC owned about 0.45% of Clearside Biomedical at the end of the most recent reporting period. Institutional investors own 18.75% of the company’s stock.

About Clearside Biomedical

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.