Aldeyra Therapeutics (NASDAQ:ALDX) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a hold rating to a sell rating in a research note issued to investors on Saturday.

ALDX has been the topic of several other reports. BTIG Research reaffirmed a “buy” rating on shares of Aldeyra Therapeutics in a report on Tuesday, March 17th. HC Wainwright reiterated a “neutral” rating and set a $2.00 price target (down from $10.00) on shares of Aldeyra Therapeutics in a research report on Wednesday, March 18th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.50.

Aldeyra Therapeutics Price Performance

Aldeyra Therapeutics stock opened at $1.73 on Friday. The firm has a market cap of $104.35 million, a price-to-earnings ratio of -3.04 and a beta of 1.16. Aldeyra Therapeutics has a 52 week low of $1.07 and a 52 week high of $6.18. The business’s 50-day moving average price is $2.62 and its 200 day moving average price is $4.18.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its earnings results on Wednesday, May 13th. The biotechnology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.07. Equities analysts expect that Aldeyra Therapeutics will post -0.44 EPS for the current year.

Insider Transactions at Aldeyra Therapeutics

In other Aldeyra Therapeutics news, Director Richard Douglas purchased 70,000 shares of the stock in a transaction on Thursday, March 19th. The shares were bought at an average price of $1.40 per share, for a total transaction of $98,000.00. Following the completion of the transaction, the director owned 195,000 shares of the company’s stock, valued at $273,000. This trade represents a 56.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 9.60% of the company’s stock.

Hedge Funds Weigh In On Aldeyra Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in Aldeyra Therapeutics by 1.9% during 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 lifted its position in shares of 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 valued at $231,000 after acquiring an additional 20,980 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Aldeyra Therapeutics in the first quarter worth approximately $33,000. Abel Hall LLC acquired a new stake in shares of Aldeyra Therapeutics in the first quarter worth approximately $26,000. Finally, Krilogy Financial LLC acquired a new stake in shares of Aldeyra Therapeutics in the first quarter worth approximately $26,000. Hedge funds and other 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.