Aldeyra Therapeutics Inc. (NASDAQ:ALDX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.

According to Zacks, “Aldeyra Therapeutics, Inc. is a biotechnology company. The company’s products target immune-mediated, inflammatory, orphan, and other diseases. It is developing NS2, a compound that binds and traps free aldehydes. Aldeyra Therapeutics, Inc. is based in Burlington, Massachusetts. “

A number of other equities research analysts have also recently commented on the stock. HC Wainwright restated a “buy” rating on shares of Aldeyra Therapeutics in a research note on Friday. Cowen and Company reiterated a “buy” rating on shares of Aldeyra Therapeutics in a research report on Tuesday, November 15th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $14.30.

Shares of Aldeyra Therapeutics (NASDAQ:ALDX) traded up 3.28% during midday trading on Monday, hitting $6.30. 93,432 shares of the stock were exchanged. The company’s market capitalization is $39.34 million. The firm has a 50-day moving average of $6.50 and a 200-day moving average of $6.05. Aldeyra Therapeutics has a 1-year low of $3.39 and a 1-year high of $8.19.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its earnings results on Monday, November 14th. The biotechnology company reported ($0.38) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.01. On average, equities analysts expect that Aldeyra Therapeutics will post ($1.69) EPS for the current year.

Several large investors have recently added to or reduced their stakes in the stock. AWM Investment Company Inc. bought a new stake in Aldeyra Therapeutics during the second quarter valued at about $5,222,000. Vanguard Group Inc. boosted its stake in Aldeyra Therapeutics by 3.1% in the second quarter. Vanguard Group Inc. now owns 125,125 shares of the biotechnology company’s stock valued at $712,000 after buying an additional 3,718 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Aldeyra Therapeutics by 1,944.6% in the second quarter. BlackRock Fund Advisors now owns 20,630 shares of the biotechnology company’s stock valued at $117,000 after buying an additional 19,621 shares during the last quarter. FMR LLC boosted its stake in Aldeyra Therapeutics by 25.0% in the second quarter. FMR LLC now owns 1,797,811 shares of the biotechnology company’s stock valued at $10,230,000 after buying an additional 360,000 shares during the last quarter. Finally, Perceptive Advisors LLC boosted its stake in Aldeyra Therapeutics by 56.4% in the second quarter. Perceptive Advisors LLC now owns 1,940,458 shares of the biotechnology company’s stock valued at $11,041,000 after buying an additional 700,000 shares during the last quarter. Hedge funds and other institutional investors own 50.82% of the company’s stock.

About Aldeyra Therapeutics

Aldeyra Therapeutics, Inc, formerly Aldexa Therapeutics, Inc, is a biotechnology company. The Company’s principal activities include raising capital and research and development activities. The Company’s segment is the identification and development of a treatment for diseases related to high levels of aldehydes.

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