Clearside Biomedical Stock Crushes Shorts After Drug Data

It would take shorts more than a week to cover, at the average pace of trading

Mar 5, 2018 at 9:56 AM
facebook twitter linkedin

Shares of Clearside Biomedical Inc (NASDAQ:CLSD) are trading up 64.3% at $12.85 -- fresh off a 15-month high of $13.25, and on track for their biggest one-day gain ever. The drugmaker released positive topline data for its treatment on patients with macular edema associated with non-infectious uveitis, which is a build-up of fluid in the eye that negatively impacts vision.

Heading into today's trading, the shares had been chopping lower since topping $10 in late July, and hit a record low of $5.30 on Feb. 9. Short sellers, meanwhile, targeted CLSD stock during its recent technical troubles, with short interest surging 18.6% between the Feb. 1 and Feb. 15 reporting periods.

As such, it's likely a short squeeze is creating even bigger tailwinds for Clearside Biomedical shares. In fact, at the stock's average daily pace of trading, it would take more than a week to buy back these bearish bets.

Analysts, on the other hand, were already bullish on Clearside Biomedical, with all six covering analysts maintaining a "buy" or better rating. Plus, the average 12-month price target of $19.20 represented expected upside of nearly 146% to last Friday's close at $7.82.

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners