Clearside Biomedical Inc (NASDAQ: CLSD) – Not A Clear Buying Opportunity?

Clearside Biomedical Inc (CLSD) concluded trading on Thursday at a closing price of $1.53, with 0.44 million shares of worth about $0.68 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 77.91% during that period and on March 28, 2024 the price saw a loss of about -8.38%. Currently the company’s common shares owned by public are about 74.72M shares, out of which, 63.00M shares are available for trading.

However, the stock later moved at a day high price of 1.7200, or with a loss of -8.38%. Stock saw a price change of -15.00% in past 5 days and over the past one month there was a price change of 8.51%. Year-to-date (YTD), CLSD shares are showing a performance of 30.77% which increased to 64.53% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.65 but also hit the highest price of $2.12 during that period. The average intraday trading volume for Clearside Biomedical Inc shares is 351.62K. The stock is currently trading -6.05% below its 20-day simple moving average (SMA20), while that difference is up 6.35% for SMA50 and it goes to 34.48% higher than SMA200.

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Clearside Biomedical Inc (NASDAQ: CLSD) currently have 74.72M outstanding shares and institutions hold larger chunk of about 13.32% of that.

The stock has a current market capitalization of $114.32M and its 3Y-monthly beta is at 2.30. It has posted earnings per share of -$0.53 in the same period. It has Quick Ratio of 4.42. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CLSD, volatility over the week remained 9.97% while standing at 12.89% over the month.

Analysts are in expectations that Clearside Biomedical Inc (CLSD) stock would likely to be making an EPS of -$0.14 in the current quarter, while forecast for next quarter EPS is -$0.14 and it is -$0.56 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.16 which is -$0.12 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.15 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -0.63% while it is estimated to decrease by -5.38% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wedbush on December 15, 2021 offering an Outperform rating for the stock and assigned a target price range of between $19 and $9 to it. Coverage by H.C. Wainwright stated Clearside Biomedical Inc (CLSD) stock as a Buy in their note to investors on July 29, 2021, suggesting a price target of $10 for the stock. Stock get a Hold rating from Stifel on November 05, 2018.

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