Aldeyra Therapeutics (NASDAQ:ALDX) Share Price Passes Below Fifty Day Moving Average – Should You Sell?

Aldeyra Therapeutics, Inc. (NASDAQ:ALDXGet Free Report)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $4.05 and traded as low as $1.48. Aldeyra Therapeutics shares last traded at $1.52, with a volume of 1,278,933 shares traded.

Aldeyra Therapeutics News Roundup

Here are the key news stories impacting Aldeyra Therapeutics this week:

Wall Street Analysts Forecast Growth

ALDX has been the topic of several research analyst reports. Wall Street Zen lowered Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. HC Wainwright reaffirmed a “neutral” rating and issued a $2.00 price objective (down from $10.00) on shares of Aldeyra Therapeutics in a research note on Wednesday, March 18th. Finally, BTIG Research reaffirmed a “buy” rating on shares of Aldeyra Therapeutics in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $5.50.

Check Out Our Latest Research Report on ALDX

Aldeyra Therapeutics Trading Down 1.3%

The firm has a market capitalization of $91.47 million, a price-to-earnings ratio of -2.67 and a beta of 1.34. The firm has a 50 day moving average price of $4.05 and a two-hundred day moving average price of $4.69.

Aldeyra Therapeutics (NASDAQ:ALDXGet Free Report) last released its quarterly earnings data on Friday, February 27th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.03. As a group, research analysts forecast that Aldeyra Therapeutics, Inc. will post -0.92 earnings per share for the current year.

Insider Activity at Aldeyra Therapeutics

In related news, Director Richard Douglas bought 70,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average cost of $1.40 per share, for a total transaction of $98,000.00. Following the acquisition, the director owned 195,000 shares in the company, valued at $273,000. This represents a 56.00% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 9.60% of the company’s stock.

Institutional Investors Weigh In On Aldeyra Therapeutics

Hedge funds have recently modified their holdings of the stock. Caption Management LLC raised its holdings 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 buying an additional 132,358 shares during the period. Inspirion Wealth Advisors LLC purchased a new stake in shares of Aldeyra Therapeutics during the 4th quarter valued at about $52,000. Global Retirement Partners LLC purchased a new stake in shares of Aldeyra Therapeutics during the 4th quarter valued at about $52,000. BNP Paribas Financial Markets raised its holdings in shares of 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 buying an additional 2,859 shares during the period. Finally, CIBC Private Wealth Group LLC purchased a new stake in shares of Aldeyra Therapeutics during the 3rd quarter valued at about $55,000. 59.71% of the stock is currently owned by hedge funds and other institutional investors.

About Aldeyra Therapeutics

(Get Free Report)

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.

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