Aldeyra Therapeutics, Inc. (ALDX) Sees Large Volume Increase

Shares of Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) saw an uptick in trading volume on Tuesday . 11,193,437 shares were traded during trading, an increase of 25,486% from the previous session’s volume of 43,748 shares.The stock last traded at $5.65 and had previously closed at $4.20.

Several brokerages recently issued reports on ALDX. ValuEngine lowered shares of Aldeyra Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 6th. Canaccord Genuity set a $12.00 price target on shares of Aldeyra Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, June 14th. HC Wainwright set a $18.00 price target on shares of Aldeyra Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Aldeyra Therapeutics from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $16.00 target price on shares of Aldeyra Therapeutics in a report on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Aldeyra Therapeutics presently has an average rating of “Buy” and an average target price of $14.15.

The stock’s market cap is $35.28 million. The firm’s 50 day moving average is $4.38 and its 200 day moving average is $4.66.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.35) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.02. On average, analysts expect that Aldeyra Therapeutics, Inc. will post ($1.63) EPS for the current year.

In related news, major shareholder Life Sciences Maste Perceptive bought 296,007 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were acquired at an average cost of $4.60 per share, for a total transaction of $1,361,632.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 28.40% of the company’s stock.

Several hedge funds have recently modified their holdings of ALDX. Sphera Funds Management LTD. grew its stake in Aldeyra Therapeutics by 81.4% in the first quarter. Sphera Funds Management LTD. now owns 668,500 shares of the biotechnology company’s stock valued at $3,343,000 after purchasing an additional 300,000 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Aldeyra Therapeutics in the first quarter valued at about $132,000. Sabby Management LLC purchased a new position in Aldeyra Therapeutics in the first quarter valued at about $898,000. Perceptive Advisors LLC grew its stake in Aldeyra Therapeutics by 48.7% in the first quarter. Perceptive Advisors LLC now owns 2,885,458 shares of the biotechnology company’s stock valued at $12,897,000 after purchasing an additional 945,000 shares in the last quarter. Finally, Hikari Power Ltd grew its stake in Aldeyra Therapeutics by 186.4% in the second quarter. Hikari Power Ltd now owns 107,858 shares of the biotechnology company’s stock valued at $507,000 after purchasing an additional 70,196 shares in the last quarter. Institutional investors and hedge funds own 49.09% of the company’s stock.

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Aldeyra Therapeutics Company Profile

Aldeyra Therapeutics, Inc, formerly Aldexa Therapeutics, Inc, is a biotechnology company. The Company’s principal activities include raising capital and research and development activities. The Company’s segment is the identification and development of a treatment for diseases related to high levels of aldehydes.

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