Aldeyra Therapeutics (NASDAQ:ALDX) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $1.85 and traded as high as $1.85. Aldeyra Therapeutics shares last traded at $1.72, with a volume of 2,584,594 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ALDX shares. Wall Street Zen upgraded shares of Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings lowered shares of Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $5.50.

Aldeyra Therapeutics Stock Down 10.4%

The company’s fifty day moving average price is $1.85 and its 200-day moving average price is $3.04. The stock has a market capitalization of $103.75 million, a PE ratio of -3.74 and a beta of 1.16.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.07. Equities research analysts anticipate that Aldeyra Therapeutics, Inc. will post -0.43 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Todd C. Brady bought 250,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were acquired at an average cost of $1.67 per share, with a total value of $417,500.00. Following the completion of the acquisition, the chief executive officer owned 1,721,298 shares of the company’s stock, valued at $2,874,567.66. The trade was a 16.99% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 11.80% of the company’s stock.

Institutional Trading of Aldeyra Therapeutics

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Aldeyra Therapeutics by 2.6% in the third quarter. Vanguard Group Inc. now owns 3,591,869 shares of the biotechnology company’s stock worth $18,750,000 after buying an additional 90,276 shares during the last quarter. 683 Capital Management LLC grew its holdings in shares of Aldeyra Therapeutics by 86.6% during the fourth quarter. 683 Capital Management LLC now owns 1,530,000 shares of the biotechnology company’s stock valued at $7,925,000 after buying an additional 710,000 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Aldeyra Therapeutics by 275.4% during the second quarter. AQR Capital Management LLC now owns 1,473,812 shares of the biotechnology company’s stock valued at $5,645,000 after buying an additional 1,081,257 shares during the last quarter. Kennedy Capital Management LLC grew its holdings in shares of Aldeyra Therapeutics by 12.9% during the fourth quarter. Kennedy Capital Management LLC now owns 1,255,838 shares of the biotechnology company’s stock valued at $6,505,000 after buying an additional 143,625 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Aldeyra Therapeutics by 0.8% during the second quarter. Geode Capital Management LLC now owns 1,146,597 shares of the biotechnology company’s stock valued at $4,392,000 after acquiring an additional 8,769 shares in the last quarter. 59.71% of the stock is owned by hedge funds and other institutional investors.

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.