JPMorgan Chase & Co. Buys New Position in Clearside Biomedical, Inc. (NASDAQ:CLSD)
JPMorgan Chase & Co. bought a new position in Clearside Biomedical, Inc. (NASDAQ:CLSD) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 22,420 shares of the company’s stock, valued at approximately $178,000.
Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Clearside Biomedical by 10.8% in the first quarter. Bank of New York Mellon Corp now owns 34,823 shares of the company’s stock worth $277,000 after buying an additional 3,404 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Clearside Biomedical by 325.0% in the first quarter. Wells Fargo & Company MN now owns 16,739 shares of the company’s stock worth $133,000 after buying an additional 12,800 shares during the period. Norges Bank purchased a new stake in shares of Clearside Biomedical during the fourth quarter worth about $417,000. Finally, Granite Investment Partners LLC purchased a new stake in shares of Clearside Biomedical during the first quarter worth about $423,000. Institutional investors and hedge funds own 49.67% of the company’s stock.
Clearside Biomedical, Inc. (CLSD) opened at 8.00 on Tuesday. The company’s market cap is $202.40 million. The stock has a 50 day moving average of $9.15 and a 200 day moving average of $8.05. Clearside Biomedical, Inc. has a 52 week low of $5.44 and a 52 week high of $25.08.
Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings data on Wednesday, May 10th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.44) by $0.03. Clearside Biomedical had a negative return on equity of 53.20% and a negative net margin of 154,030.02%. The company had revenue of $0.01 million during the quarter. Equities research analysts predict that Clearside Biomedical, Inc. will post ($1.72) earnings per share for the current fiscal year.
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A number of equities research analysts recently issued reports on the stock. Cowen and Company reiterated a “buy” rating on shares of Clearside Biomedical in a research report on Monday. Zacks Investment Research raised shares of Clearside Biomedical from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Tuesday, July 11th. Wedbush reissued an “outperform” rating and set a $27.00 price objective on shares of Clearside Biomedical in a report on Thursday, April 20th. JMP Securities started coverage on shares of Clearside Biomedical in a report on Thursday, May 25th. They set an “outperform” rating and a $21.00 price objective on the stock. Finally, ValuEngine raised shares of Clearside Biomedical from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $19.00.
In other news, Director Clay Thorp sold 15,941 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $8.94, for a total value of $142,512.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel H. White sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $8.41, for a total value of $67,280.00. Following the completion of the transaction, the insider now directly owns 511,267 shares of the company’s stock, valued at approximately $4,299,755.47. The disclosure for this sale can be found here. Insiders sold 125,170 shares of company stock valued at $1,080,884 in the last ninety days. 20.90% of the stock is currently owned by insiders.
Clearside Biomedical Company Profile
Clearside Biomedical, Inc is a clinical biopharmaceutical company developing first-in-class drug therapies to treat blinding diseases of the eye. The Company’s product candidates focus on diseases affecting the retina, which is the tissue that lines the inside of the eye and is primarily responsible for vision, and the choroid, which is the layer adjacent to the retina that supplies the retina with blood, oxygen and nourishment.
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