Aldeyra Therapeutics (NASDAQ:ALDX) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Aldeyra Therapeutics (NASDAQ:ALDX) posted its earnings results on Wednesday. The biotechnology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.04, FiscalAI reports.

Aldeyra Therapeutics Price Performance

Shares of ALDX stock traded down $0.06 during trading hours on Thursday, hitting $4.87. 122,991 shares of the company’s stock were exchanged, compared to its average volume of 1,068,574. The stock’s 50-day moving average is $5.33 and its 200-day moving average is $4.30. The stock has a market cap of $291.45 million, a price-to-earnings ratio of -5.76 and a beta of 0.79. Aldeyra Therapeutics has a 52 week low of $1.14 and a 52 week high of $7.20.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ALDX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aldeyra Therapeutics in a report on Wednesday, October 8th. Zacks Research upgraded Aldeyra Therapeutics to a “hold” rating in a research report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.50.

Insider Activity at Aldeyra Therapeutics

In other news, insider Stephen Machatha sold 22,073 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $5.15, for a total transaction of $113,675.95. Following the sale, the insider owned 221,799 shares in the company, valued at approximately $1,142,264.85. This represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Aldeyra Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Caption Management LLC boosted its holdings in Aldeyra Therapeutics by 110.6% in the second quarter. Caption Management LLC now owns 12,664 shares of the biotechnology company’s stock valued at $49,000 after acquiring an additional 132,358 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Aldeyra Therapeutics by 10.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,074 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 1,972 shares during the last quarter. Ameriprise Financial Inc. bought a new position in Aldeyra Therapeutics in the second quarter valued at about $101,000. Cerity Partners LLC bought a new position in Aldeyra Therapeutics in the second quarter valued at about $140,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in Aldeyra Therapeutics in the first quarter valued at about $218,000. Institutional investors own 59.71% of the company’s stock.

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.