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

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX)’s stock price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $4.89 and traded as high as $5.65. Aldeyra Therapeutics shares last traded at $5.54, with a volume of 865,280 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Aldeyra Therapeutics in a report on Wednesday, October 8th. BTIG Research restated a “buy” rating and set a $9.00 price objective on shares of Aldeyra Therapeutics in a research note 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.com, Aldeyra Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Aldeyra Therapeutics Stock Performance

The company has a market capitalization of $333.29 million, a price-to-earnings ratio of -7.59 and a beta of 0.86. The business’s 50 day moving average is $4.89 and its 200 day moving average is $5.16.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.04. Sell-side analysts predict that Aldeyra Therapeutics, Inc. will post -0.92 EPS for the current year.

Institutional Trading of Aldeyra Therapeutics

Large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Aldeyra Therapeutics by 10.9% during the second quarter. The Manufacturers Life Insurance Company now owns 20,074 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 1,972 shares during the period. Rhumbline Advisers raised its position in Aldeyra Therapeutics by 2.7% during the 2nd quarter. Rhumbline Advisers now owns 77,494 shares of the biotechnology company’s stock worth $297,000 after buying an additional 2,018 shares during the last quarter. Brighton Jones LLC raised its position in Aldeyra Therapeutics by 11.4% during the 3rd quarter. Brighton Jones LLC now owns 19,945 shares of the biotechnology company’s stock worth $104,000 after buying an additional 2,046 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Aldeyra Therapeutics by 36.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,610 shares of the biotechnology company’s stock valued at $55,000 after acquiring an additional 2,859 shares during the period. Finally, Strs Ohio boosted its holdings in shares of Aldeyra Therapeutics by 4.1% in the 3rd quarter. Strs Ohio now owns 85,700 shares of the biotechnology company’s stock valued at $447,000 after acquiring an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors own 59.71% of the company’s stock.

About Aldeyra Therapeutics

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.