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

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $1.72 and traded as high as $1.96. Aldeyra Therapeutics shares last traded at $1.80, with a volume of 2,047,726 shares changing hands.

Wall Street Analyst Weigh In

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

Aldeyra Therapeutics Price Performance

The firm has a market cap of $108.58 million, a price-to-earnings ratio of -3.91 and a beta of 1.19. The firm’s fifty day moving average is $1.72 and its two-hundred day moving average is $3.35.

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

Insider Buying and Selling at Aldeyra Therapeutics

In related news, CEO Todd C. Brady acquired 250,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average cost of $1.67 per share, for a total transaction of $417,500.00. Following the completion of the acquisition, the chief executive officer directly owned 1,721,298 shares of the company’s stock, valued at approximately $2,874,567.66. The trade was a 16.99% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 11.80% of the company’s stock.

Institutional Investors Weigh In On Aldeyra Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALDX. Abel Hall LLC bought a new stake in Aldeyra Therapeutics during the first quarter worth approximately $26,000. Krilogy Financial LLC bought a new position in Aldeyra Therapeutics during the 1st quarter valued at $26,000. Chicago Partners Investment Group LLC acquired a new position in shares of Aldeyra Therapeutics during the 1st quarter valued at $33,000. Caption Management LLC increased its position in shares of Aldeyra Therapeutics by 110.6% during the 2nd quarter. Caption Management LLC now owns 12,664 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 132,358 shares during the period. Finally, Inspirion Wealth Advisors LLC acquired a new position in shares of Aldeyra Therapeutics during the 4th quarter valued at $52,000. 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.