Clearside Biomedical Inc (NASDAQ:CLSD) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $5.65 and last traded at $6.77, with a volume of 23,538 shares changing hands. The stock had previously closed at $6.01.

CLSD has been the topic of a number of recent analyst reports. Wedbush initiated coverage on Clearside Biomedical in a report on Monday, June 27th. They issued an “outperform” rating and a $28.00 price objective on the stock. Cowen and Company initiated coverage on Clearside Biomedical in a report on Monday, June 27th. They issued an “outperform” rating on the stock. Needham & Company LLC initiated coverage on Clearside Biomedical in a report on Tuesday, June 28th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Stifel Nicolaus initiated coverage on Clearside Biomedical in a report on Monday, June 27th. They issued a “buy” rating and a $13.00 price objective on the stock.

The firm’s market cap is $18.02 million. The company’s 50-day moving average price is $0.00 and its 200-day moving average price is $0.00.

In other news, major shareholder Venture Advisors Iv S. Hatteras purchased 414,286 shares of the stock in a transaction on Tuesday, June 7th. The stock was purchased at an average price of $7.00 per share, with a total value of $2,900,002.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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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