State of Wisconsin Investment Board Invests $137,000 in Clearside Biomedical, Inc. (CLSD) Stock
State of Wisconsin Investment Board acquired a new position in shares of Clearside Biomedical, Inc. (NASDAQ:CLSD) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 15,000 shares of the company’s stock, valued at approximately $137,000. State of Wisconsin Investment Board owned about 0.06% of Clearside Biomedical at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in Clearside Biomedical by 325.0% during the 1st 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 last quarter. TIAA CREF Investment Management LLC grew its stake in Clearside Biomedical by 30.7% during the 1st quarter. TIAA CREF Investment Management LLC now owns 19,257 shares of the company’s stock worth $153,000 after buying an additional 4,527 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Clearside Biomedical during the 1st quarter worth $178,000. Rhumbline Advisers bought a new position in Clearside Biomedical during the 2nd quarter worth $198,000. Finally, Highbridge Capital Management LLC bought a new position in Clearside Biomedical during the 1st quarter worth $217,000. Hedge funds and other institutional investors own 52.45% of the company’s stock.
Clearside Biomedical, Inc. (CLSD) opened at 7.60 on Friday. Clearside Biomedical, Inc. has a 52 week low of $6.50 and a 52 week high of $25.08. The company’s market capitalization is $192.55 million. The company’s 50-day moving average price is $7.68 and its 200-day moving average price is $7.97.
Clearside Biomedical (NASDAQ:CLSD) last issued its earnings results on Wednesday, August 9th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.13). Clearside Biomedical had a negative return on equity of 65.78% and a negative net margin of 27,225.52%. The company had revenue of $0.13 million during the quarter. On average, equities analysts forecast that Clearside Biomedical, Inc. will post ($2.10) EPS for the current fiscal year.
CLSD has been the subject of a number of recent research reports. Zacks Investment Research downgraded Clearside Biomedical from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. JMP Securities initiated coverage on Clearside Biomedical in a research note on Thursday, May 25th. They set an “outperform” rating and a $21.00 price objective for the company. ValuEngine upgraded Clearside Biomedical from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Cowen and Company restated a “buy” rating on shares of Clearside Biomedical in a research note on Thursday, June 8th. Finally, TheStreet downgraded Clearside Biomedical from a “c-” rating to a “d” rating in a research note on Friday, August 11th. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $19.00.
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In other news, CEO Daniel H. White sold 3,600 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $9.79, for a total value of $35,244.00. Following the completion of the transaction, the chief executive officer now directly owns 499,967 shares of the company’s stock, valued at approximately $4,894,676.93. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gerald D. Cagle bought 5,000 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $7.08 per share, with a total value of $35,400.00. Following the completion of the acquisition, the director now owns 15,941 shares in the company, valued at approximately $112,862.28. The disclosure for this purchase can be found here. Over the last three months, insiders bought 7,100 shares of company stock valued at $50,170 and sold 100,600 shares valued at $788,844. Corporate insiders own 20.90% of the company’s stock.
Clearside Biomedical 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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