Bridgeway Capital Management Inc. increased its position in shares of Clearside Biomedical Inc (NASDAQ:CLSD) by 87.6% in the 3rd quarter, Holdings Channel reports. The firm owned 139,200 shares of the company’s stock after acquiring an additional 65,000 shares during the period. Bridgeway Capital Management Inc.’s holdings in Clearside Biomedical were worth $856,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of CLSD. Kornitzer Capital Management Inc. KS raised its holdings in Clearside Biomedical by 23.7% during the second quarter. Kornitzer Capital Management Inc. KS now owns 92,800 shares of the company’s stock worth $992,000 after purchasing an additional 17,800 shares during the last quarter. Alps Advisors Inc. acquired a new position in Clearside Biomedical during the second quarter worth $496,000. Rhumbline Advisers raised its holdings in Clearside Biomedical by 43.2% during the second quarter. Rhumbline Advisers now owns 26,703 shares of the company’s stock worth $285,000 after purchasing an additional 8,057 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Clearside Biomedical by 56.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 60,222 shares of the company’s stock worth $644,000 after purchasing an additional 21,622 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Clearside Biomedical during the second quarter worth $534,000. 57.94% of the stock is owned by hedge funds and other institutional investors.
Clearside Biomedical stock opened at $1.37 on Friday. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.22. The firm has a market cap of $43.55 million, a price-to-earnings ratio of -0.59 and a beta of -4.34. Clearside Biomedical Inc has a fifty-two week low of $1.31 and a fifty-two week high of $15.33.
Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Thursday, November 8th. The company reported ($0.75) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.12). On average, research analysts anticipate that Clearside Biomedical Inc will post -2.57 EPS for the current year.
CLSD has been the subject of several research reports. ValuEngine raised Clearside Biomedical from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th. Needham & Company LLC set a $4.00 price target on Clearside Biomedical and gave the stock a “buy” rating in a research report on Tuesday, November 6th. Laidlaw set a $5.00 price target on Clearside Biomedical and gave the stock a “buy” rating in a research report on Tuesday, November 6th. JPMorgan Chase & Co. downgraded Clearside Biomedical from an “overweight” rating to an “underweight” rating in a research report on Monday, November 5th. Finally, Janney Montgomery Scott set a $4.00 price target on Clearside Biomedical and gave the stock a “buy” rating in a research report on Tuesday, November 6th. Three analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Clearside Biomedical has an average rating of “Hold” and an average price target of $12.71.
About Clearside Biomedical
Clearside Biomedical, Inc, a late-stage clinical biopharmaceutical company, develops pharmacological therapies to treat blinding diseases of the eye. It is developing suprachoroidal injection of CLS-TA, a proprietary preservative-free formulation of the corticosteroid triamcinolone acetonide, which is in Phase III clinical trial for the treatment of macular edema associated with non-infectious uveitis; suprachoroidal injection of CLS-TA and a concomitant intravitreal injection of Eylea, an inhibitor of vascular endothelial growth factor that is in Phase III clinical trial to treat macular edema associated with retinal vein occlusion; and suprachoroidal injection of CLS-TA alone or together with intravitreal injection of Eylea that is in phase II clinical trial for diabetic macular edema.
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