Aldeyra Therapeutics (NASDAQ:ALDX) Stock Price Passes Above 50 Day Moving Average – Here’s What Happened

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $5.07 and traded as high as $5.50. Aldeyra Therapeutics shares last traded at $5.05, with a volume of 1,100,083 shares trading hands.

Wall Street Analyst Weigh In

ALDX has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aldeyra Therapeutics in a research note on Wednesday, October 8th. BTIG Research reaffirmed a “buy” rating and issued a $9.00 target price on shares of Aldeyra Therapeutics in a research report on Monday, November 10th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.50.

Aldeyra Therapeutics Stock Up 6.7%

The business’s fifty day moving average is $5.07 and its 200-day moving average is $4.95. The company has a market cap of $324.26 million, a PE ratio of -7.38 and a beta of 0.83.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.04. Analysts forecast that Aldeyra Therapeutics, Inc. will post -0.92 EPS for the current fiscal year.

Institutional Trading of Aldeyra Therapeutics

Several hedge funds have recently bought and sold shares of ALDX. Public Employees Retirement System of Ohio bought a new position in shares of Aldeyra Therapeutics in the second quarter worth about $25,000. Inspirion Wealth Advisors LLC bought a new stake in Aldeyra Therapeutics during the 2nd quarter valued at about $38,000. King Wealth Management Group purchased a new stake in Aldeyra Therapeutics in the 2nd quarter valued at about $46,000. Caption Management LLC boosted its position in Aldeyra Therapeutics by 110.6% in the 2nd quarter. Caption Management LLC now owns 12,664 shares of the biotechnology company’s stock valued at $49,000 after buying an additional 132,358 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Aldeyra Therapeutics by 36.9% during the third quarter. BNP Paribas Financial Markets now owns 10,610 shares of the biotechnology company’s stock worth $55,000 after acquiring an additional 2,859 shares during the period. Institutional investors own 59.71% of the company’s stock.

Aldeyra Therapeutics Company Profile

Aldeyra Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small molecule therapies for immune-mediated diseases. The company’s research efforts center on targeted alkenals, a class of reactive aldehyde species that play a key role in inflammatory pathways. By selectively modulating these pathways, Aldeyra aims to address both ocular and systemic indications with high unmet medical need.

The company’s lead product candidate, reproxalap, is being investigated in several ophthalmic disorders, including dry eye disease, allergic conjunctivitis and non-infectious anterior uveitis.