First Manhattan CO. LLC. Lowers Stock Holdings in Clearside Biomedical, Inc. (NASDAQ:CLSD)

First Manhattan CO. LLC. reduced its position in Clearside Biomedical, Inc. (NASDAQ:CLSD) by 39.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 405,668 shares of the company’s stock after selling 260,474 shares during the period. First Manhattan CO. LLC.’s holdings in Clearside Biomedical were worth $385,000 at the end of the most recent reporting period.

Separately, Northern Trust Corp grew its stake in Clearside Biomedical by 24.0% in the 4th quarter. Northern Trust Corp now owns 165,499 shares of the company’s stock worth $157,000 after acquiring an additional 32,048 shares during the period. Institutional investors own 18.75% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CLSD. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of Clearside Biomedical in a research note on Monday, March 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $4.00 target price on shares of Clearside Biomedical in a research note on Tuesday, April 8th. StockNews.com cut shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Chardan Capital reiterated a “buy” rating and issued a $6.00 price target on shares of Clearside Biomedical in a report on Friday, March 28th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, Clearside Biomedical currently has an average rating of “Moderate Buy” and a consensus price target of $5.25.

Clearside Biomedical Stock Up 0.4%

Shares of CLSD opened at $0.85 on Monday. The firm has a market cap of $65.88 million, a PE ratio of -1.89 and a beta of 2.11. The company’s fifty day moving average is $0.88 and its two-hundred day moving average is $0.96. Clearside Biomedical, Inc. has a fifty-two week low of $0.70 and a fifty-two week high of $1.65.

Clearside Biomedical (NASDAQ:CLSD) last announced its quarterly earnings results on Thursday, March 27th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The company had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.27 million. As a group, equities research analysts anticipate that Clearside Biomedical, Inc. will post -0.48 earnings per share for the current year.

About Clearside Biomedical

Clearside Biomedical, Inc, a biopharmaceutical company, focuses on the revolutionizing the delivery of therapies to the back of the eye through the suprachoroidal space. It offers XIPERE, a triamcinolone acetonide suprachoroidal injectable suspension for the treatment of uveitis macular edema. It also develops CLS-AX, an axitinib injectable suspension for suprachoroidal injection, which is in Phase IIb clinical trial to treat wet AMD.