Aldeyra Therapeutics (NASDAQ:ALDX) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.50 and traded as low as $1.7450. Aldeyra Therapeutics shares last traded at $1.78, with a volume of 926,923 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ALDX shares. HC Wainwright reiterated a “neutral” rating and set a $2.00 target price (down from $10.00) on shares of Aldeyra Therapeutics in a research report on Wednesday, March 18th. Wall Street Zen upgraded Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. BTIG Research reaffirmed a “buy” rating on shares of Aldeyra Therapeutics in a research note on Tuesday, March 17th. Finally, Weiss Ratings downgraded shares of Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.50.

Aldeyra Therapeutics Stock Up 1.1%

The stock’s 50 day moving average is $1.68 and its two-hundred day moving average is $3.50. The company has a market capitalization of $107.37 million, a PE ratio of -3.87 and a beta of 1.19.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.07. On average, sell-side analysts predict that Aldeyra Therapeutics, Inc. will post -0.43 EPS for the current fiscal year.

Insider Buying and Selling

In other Aldeyra Therapeutics news, CEO Todd C. Brady acquired 250,000 shares of Aldeyra Therapeutics stock in a transaction that occurred on Wednesday, June 3rd. The stock was bought at an average price of $1.67 per share, with a total value of $417,500.00. Following the completion of the purchase, the chief executive officer directly owned 1,721,298 shares of the company’s stock, valued at approximately $2,874,567.66. This represents a 16.99% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard Douglas acquired 70,000 shares of Aldeyra Therapeutics stock in a transaction that occurred on Thursday, March 19th. The stock was acquired at an average cost of $1.40 per share, with a total value of $98,000.00. Following the purchase, the director directly owned 195,000 shares of the company’s stock, valued at $273,000. This represents a 56.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On Aldeyra Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in Aldeyra Therapeutics by 146.6% in the first quarter. Renaissance Technologies LLC now owns 863,187 shares of the biotechnology company’s stock worth $1,459,000 after purchasing an additional 513,187 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Aldeyra Therapeutics by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 624,170 shares of the biotechnology company’s stock worth $1,055,000 after purchasing an additional 11,912 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Aldeyra Therapeutics by 18.1% in the first quarter. Bank of New York Mellon Corp now owns 136,746 shares of the biotechnology company’s stock worth $231,000 after purchasing an additional 20,980 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in Aldeyra Therapeutics in the first quarter worth about $33,000. Finally, Abel Hall LLC bought a new position in Aldeyra Therapeutics in the first quarter worth about $26,000. 59.71% of the stock is currently owned by institutional investors.

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.