Clearside Biomedical (NASDAQ:CLSD) Trading Down 36.4% – Time to Sell?

Clearside Biomedical, Inc. (NASDAQ:CLSD) fell 36.4% during mid-day trading on Monday . The company traded as low as $0.3701 and last traded at $0.3570. 2,768,773 shares were traded during trading, an increase of 1,718% from the average session volume of 152,333 shares. The stock had previously closed at $0.5613.

Wall Street Analyst Weigh In

CLSD has been the topic of a number of analyst reports. Weiss Ratings assumed coverage on shares of Clearside Biomedical in a report on Saturday, November 1st. They issued a “sell (e+)” rating on the stock. Wall Street Zen raised Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Clearside Biomedical in a research note on Tuesday, November 18th. One 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. Based on data from MarketBeat.com, Clearside Biomedical presently has a consensus rating of “Hold” and an average target price of $63.00.

Clearside Biomedical Stock Down 36.4%

The company has a market capitalization of $1.87 million, a P/E ratio of -0.06 and a beta of 2.04. The business’s 50-day moving average is $1.61 and its two-hundred day moving average is $4.91.

Clearside Biomedical (NASDAQ:CLSD) last issued its quarterly earnings data on Friday, November 14th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.47). The business had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.09 million. Analysts predict that Clearside Biomedical, Inc. will post -0.48 EPS for the current year.

Institutional Trading of Clearside Biomedical

A hedge fund recently bought a new stake in Clearside Biomedical stock. Apollon Wealth Management LLC acquired a new stake in Clearside Biomedical, Inc. (NASDAQ:CLSD) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 23,586 shares of the company’s stock, valued at approximately $94,000. Apollon Wealth Management LLC owned 0.45% of Clearside Biomedical at the end of the most recent reporting period. 18.75% of the stock is owned by institutional investors and hedge funds.

About Clearside Biomedical

Clearside Biomedical, Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing novel therapies for diseases affecting the back of the eye. The company’s proprietary SCS Microinjector® platform enables targeted delivery of therapeutics into the suprachoroidal space, a potential route to enhance local drug exposure while minimizing off-target effects. Clearside’s approach is designed to address a range of retinal disorders by directly depositing medication adjacent to choroid and retina.

The company’s lead approved product is XIPERE® (triamcinolone acetonide injectable suspension), which has received U.S.