Aldeyra Therapeutics (NASDAQ:ALDX) Downgraded by StockNews.com

StockNews.com downgraded shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a hold rating to a sell rating in a research note released on Wednesday morning.

ALDX has been the topic of a number of other reports. Oppenheimer reiterated an outperform rating and set a $10.00 price target on shares of Aldeyra Therapeutics in a research note on Monday, May 6th. HC Wainwright reiterated a buy rating and set a $10.00 price target on shares of Aldeyra Therapeutics in a research note on Monday, May 6th.

Aldeyra Therapeutics Price Performance

NASDAQ ALDX opened at $3.91 on Wednesday. The firm’s 50-day moving average is $3.83 and its two-hundred day moving average is $3.41. Aldeyra Therapeutics has a 12 month low of $1.42 and a 12 month high of $11.97. The stock has a market capitalization of $232.29 million, a P/E ratio of -7.67 and a beta of 1.45.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). As a group, analysts anticipate that Aldeyra Therapeutics will post -0.2 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Perceptive Advisors Llc bought 37,712 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were purchased at an average cost of $4.74 per share, for a total transaction of $178,754.88. Following the completion of the purchase, the insider now owns 9,275,851 shares of the company’s stock, valued at $43,967,533.74. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other Aldeyra Therapeutics news, CEO Todd C. Brady sold 97,914 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $3.27, for a total value of $320,178.78. Following the transaction, the chief executive officer now directly owns 1,556,622 shares in the company, valued at $5,090,153.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Perceptive Advisors Llc purchased 37,712 shares of the company’s stock in a transaction on Friday, April 5th. The stock was bought at an average price of $4.74 per share, for a total transaction of $178,754.88. Following the completion of the purchase, the insider now directly owns 9,275,851 shares of the company’s stock, valued at $43,967,533.74. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 355,933 shares of company stock worth $1,473,245. Company insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Aldeyra Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Kennedy Capital Management LLC increased its stake in Aldeyra Therapeutics by 3.3% in the first quarter. Kennedy Capital Management LLC now owns 1,318,155 shares of the biotechnology company’s stock valued at $4,310,000 after purchasing an additional 42,009 shares during the last quarter. Laurion Capital Management LP boosted its holdings in shares of Aldeyra Therapeutics by 12.7% in the third quarter. Laurion Capital Management LP now owns 1,128,889 shares of the biotechnology company’s stock valued at $7,541,000 after acquiring an additional 127,512 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Aldeyra Therapeutics by 106.3% in the first quarter. Acadian Asset Management LLC now owns 452,449 shares of the biotechnology company’s stock valued at $1,478,000 after acquiring an additional 233,169 shares during the period. Los Angeles Capital Management LLC boosted its holdings in shares of Aldeyra Therapeutics by 240.9% in the first quarter. Los Angeles Capital Management LLC now owns 380,773 shares of the biotechnology company’s stock valued at $1,245,000 after acquiring an additional 269,061 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Aldeyra Therapeutics by 2.2% in the third quarter. Deutsche Bank AG now owns 294,775 shares of the biotechnology company’s stock valued at $1,969,000 after acquiring an additional 6,470 shares during the period. 59.71% of the stock is currently owned by hedge funds and other institutional investors.

Aldeyra Therapeutics Company Profile

Aldeyra Therapeutics is a clinical-stage biotechnology company focused on the development of novel therapies with the potential to improve the lives of patients with immune-mediated diseases. Two of the company’s lead compounds, reproxalap and ADX-629, target reactive aldehyde species (RASP), which are elevated in ocular and systemic inflammatory disease, leading to elevated levels of cytokine release via activation of a broad array of inflammatory factors, including NF-κB, inflammasomes, and Scavenger Receptor A.