Short Interest in Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) Declines By 36.7%

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totaling 3,594,821 shares, a drop of 36.7% from the June 30th total of 5,675,750 shares. Based on an average trading volume of 1,809,105 shares, the days-to-cover ratio is presently 2.0 days. Currently, 6.8% of the company’s stock are short sold.

Insiders Place Their Bets

In related news, CEO Todd C. Brady acquired 250,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was bought at an average price of $1.67 per share, for a total transaction 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. The trade was a 16.99% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 11.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ALDX. Global Retirement Partners LLC purchased a new stake in Aldeyra Therapeutics in the 4th quarter valued at approximately $52,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Aldeyra Therapeutics in the 3rd quarter valued at approximately $55,000. BNP Paribas Financial Markets lifted its holdings in shares of Aldeyra Therapeutics by 36.9% in 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. SG Americas Securities LLC purchased a new stake in shares of Aldeyra Therapeutics in the fourth quarter valued at approximately $62,000. Finally, Federation des caisses Desjardins du Quebec grew its holdings in Aldeyra Therapeutics by 25.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 12,187 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 2,500 shares during the period. 59.71% of the stock is currently owned by institutional investors and hedge funds.

Aldeyra Therapeutics Stock Performance

Aldeyra Therapeutics stock traded down $0.04 during mid-day trading on Friday, reaching $1.56. 279,466 shares of the company were exchanged, compared to its average volume of 2,016,299. Aldeyra Therapeutics has a twelve month low of $1.07 and a twelve month high of $6.17. The firm’s 50-day simple moving average is $1.84 and its two-hundred day simple moving average is $2.83. The firm has a market cap of $94.40 million, a PE ratio of -3.39 and a beta of 1.16.

Aldeyra Therapeutics (NASDAQ:ALDX) last released 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. As a group, equities research analysts anticipate that Aldeyra Therapeutics will post -0.43 EPS for the current year.

Wall Street Analysts Forecast Growth

ALDX has been the subject of a number of research reports. Wall Street Zen upgraded Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings cut shares of Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.50.

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.