Clearside Biomedical Inc.’s (CLSD) Lock-Up Period To End on November 29th
Clearside Biomedical’s (NASDAQ:CLSD) lock-up period will end on Tuesday, November 29th. Clearside Biomedical had issued 7,200,000 shares in its public offering on June 2nd. The total size of the offering was $50,400,000 based on an initial share price of $7.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.
A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Tuesday, November 1st. Wedbush reiterated an “outperform” rating and set a $28.00 price target on shares of Clearside Biomedical in a report on Wednesday, November 9th. Needham & Company LLC increased their price target on Clearside Biomedical from $16.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, November 10th. Finally, Stifel Nicolaus increased their price target on Clearside Biomedical from $13.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, October 24th. Five equities research analysts have rated the stock with a buy rating, Clearside Biomedical presently has a consensus rating of “Buy” and a consensus target price of $24.25.
Clearside Biomedical (NASDAQ:CLSD) opened at 21.72 on Thursday. The company’s market cap is $446.74 million. Clearside Biomedical has a 52-week low of $5.65 and a 52-week high of $25.08. The stock’s 50 day moving average is $20.04 and its 200-day moving average is $11.59.
Several hedge funds have recently bought and sold shares of CLSD. Perceptive Advisors LLC bought a new stake in Clearside Biomedical during the second quarter worth about $4,450,000. Hillhouse Capital Management Ltd. acquired a new stake in Clearside Biomedical during the third quarter valued at $10,410,000. Marshall Wace LLP acquired a new stake in Clearside Biomedical during the second quarter valued at $1,122,000. Iguana Healthcare Management LLC acquired a new stake in Clearside Biomedical during the second quarter valued at $526,000. Finally, AWM Investment Company Inc. acquired a new stake in Clearside Biomedical during the second quarter valued at $350,000. 38.32% of the stock is owned by institutional investors.
About Clearside Biomedical
Clearside Biomedical, Inc is a late-stage clinical biopharmaceutical company. The Company is developing drug therapies to treat blinding diseases of the eye. The Company’s product candidates are focused on diseases affecting the retina and choroid, especially diseases associated with macular edema, and are injected into the suprachoroidal space (SCS) adjacent to the choroid, using its SCS Microinjector.
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