Synovus Financial Corp Trims Stock Position in Clearside Biomedical, Inc. (NASDAQ:CLSD)

Synovus Financial Corp decreased its position in Clearside Biomedical, Inc. (NASDAQ:CLSD) by 43.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,000 shares of the company’s stock after selling 23,071 shares during the period. Synovus Financial Corp’s holdings in Clearside Biomedical were worth $28,000 at the end of the most recent quarter.

Separately, Geode Capital Management LLC increased its stake in Clearside Biomedical by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 764,058 shares of the company’s stock worth $726,000 after acquiring an additional 32,672 shares during the last quarter. Hedge funds and other institutional investors own 18.75% of the company’s stock.

Clearside Biomedical Stock Down 1.1 %

Shares of NASDAQ:CLSD opened at $0.86 on Friday. The company has a market capitalization of $66.46 million, a P/E ratio of -1.91 and a beta of 2.04. Clearside Biomedical, Inc. has a 52-week low of $0.70 and a 52-week high of $1.65. The stock’s fifty day simple moving average is $0.91 and its 200-day simple moving average is $1.00.

Clearside Biomedical (NASDAQ:CLSD) last released its quarterly earnings results on Thursday, March 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.03. The firm had revenue of $0.31 million for the quarter, compared to analyst estimates of $0.27 million. On average, sell-side analysts anticipate that Clearside Biomedical, Inc. will post -0.48 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CLSD. Chardan Capital reiterated a “buy” rating and set a $6.00 price target on shares of Clearside Biomedical in a report on Friday, March 28th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Clearside Biomedical in a research note on Monday, March 31st. Needham & Company LLC restated a “buy” rating and issued a $4.00 price objective on shares of Clearside Biomedical in a report on Tuesday, April 8th. Finally, StockNews.com downgraded shares of Clearside Biomedical from a “hold” rating to a “sell” rating in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $5.25.

Clearside Biomedical Company Profile

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.