Insider Buying: Clearside Biomedical Inc (CLSD) Director Buys 7,500 Shares of Stock
Clearside Biomedical Inc (NASDAQ:CLSD) Director Gerald D. Cagle bought 7,500 shares of the firm’s stock in a transaction on Thursday, March 22nd. The stock was purchased at an average cost of $11.89 per share, with a total value of $89,175.00. Following the completion of the transaction, the director now directly owns 23,441 shares of the company’s stock, valued at $278,713.49. The transaction was disclosed in a filing with the SEC, which is available through this link.
Shares of Clearside Biomedical Inc (NASDAQ:CLSD) traded down $0.07 during midday trading on Friday, hitting $11.65. The stock had a trading volume of 93,407 shares, compared to its average volume of 918,915. The stock has a market capitalization of $388.06, a PE ratio of -5.05 and a beta of -5.48. Clearside Biomedical Inc has a one year low of $5.30 and a one year high of $15.06. The company has a debt-to-equity ratio of 0.22, a quick ratio of 4.57 and a current ratio of 2.90.
Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Wednesday, March 14th. The company reported ($0.65) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.70) by $0.05. The company had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $0.10 million. Clearside Biomedical had a negative return on equity of 131.22% and a negative net margin of 17,094.20%. analysts predict that Clearside Biomedical Inc will post -2.27 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in CLSD. Parametric Portfolio Associates LLC purchased a new position in shares of Clearside Biomedical in the second quarter valued at $122,000. Paloma Partners Management Co purchased a new position in shares of Clearside Biomedical in the fourth quarter valued at $124,000. The Manufacturers Life Insurance Company grew its position in shares of Clearside Biomedical by 21,620.7% in the second quarter. The Manufacturers Life Insurance Company now owns 17,811 shares of the company’s stock valued at $162,000 after purchasing an additional 17,729 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Clearside Biomedical in the fourth quarter valued at $178,000. Finally, New York State Common Retirement Fund grew its position in shares of Clearside Biomedical by 206.9% in the second quarter. New York State Common Retirement Fund now owns 22,100 shares of the company’s stock valued at $201,000 after purchasing an additional 14,899 shares in the last quarter. Institutional investors own 38.66% of the company’s stock.
About Clearside Biomedical
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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