Zacks Investment Research cut shares of Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) from a hold rating to a sell rating in a research note published on Tuesday.
According to Zacks, “Aldeyra Therapeutics, Inc. is a biotechnology company. The company’s products target immune-mediated, inflammatory, orphan, and other diseases. It is developing NS2, a compound that binds and traps free aldehydes. Aldeyra Therapeutics, Inc. is based in Burlington, Massachusetts. “
Several other research firms have also recently issued reports on ALDX. HC Wainwright set a $18.00 price objective on shares of Aldeyra Therapeutics and gave the company a buy rating in a research report on Thursday, June 15th. ValuEngine cut shares of Aldeyra Therapeutics from a sell rating to a strong sell rating in a research report on Wednesday, September 6th. Cowen and Company reissued an outperform rating and issued a $14.00 price objective (up from $9.00) on shares of Aldeyra Therapeutics in a research report on Thursday, September 14th. Finally, Canaccord Genuity reissued a buy rating and issued a $27.00 price objective (up from $12.00) on shares of Aldeyra Therapeutics in a research report on Wednesday, September 13th. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $15.95.
Shares of Aldeyra Therapeutics (NASDAQ:ALDX) traded down 0.68% during mid-day trading on Tuesday, reaching $7.25. 6,863 shares of the company’s stock traded hands. The firm’s market capitalization is $45.28 million. Aldeyra Therapeutics has a 12-month low of $3.80 and a 12-month high of $11.90. The stock has a 50-day moving average price of $6.48 and a 200 day moving average price of $5.08.
Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.02. Analysts anticipate that Aldeyra Therapeutics will post ($1.51) EPS for the current fiscal year.
In related news, major shareholder Life Sciences Maste Perceptive acquired 200,000 shares of the stock in a transaction on Tuesday, September 19th. The stock was bought at an average cost of $7.25 per share, with a total value of $1,450,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 28.40% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Perceptive Advisors LLC boosted its position in Aldeyra Therapeutics by 48.7% in the 1st quarter. Perceptive Advisors LLC now owns 2,885,458 shares of the biotechnology company’s stock valued at $12,897,000 after buying an additional 945,000 shares during the period. Sphera Funds Management LTD. lifted its position in shares of Aldeyra Therapeutics by 31.0% in the 2nd quarter. Sphera Funds Management LTD. now owns 875,931 shares of the biotechnology company’s stock worth $4,117,000 after purchasing an additional 207,431 shares during the period. Vanguard Group Inc. lifted its position in shares of Aldeyra Therapeutics by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 304,633 shares of the biotechnology company’s stock worth $1,431,000 after purchasing an additional 9,407 shares during the period. Sabby Management LLC purchased a new stake in shares of Aldeyra Therapeutics in the 1st quarter worth approximately $898,000. Finally, Hikari Power Ltd lifted its position in shares of Aldeyra Therapeutics by 186.4% in the 2nd quarter. Hikari Power Ltd now owns 107,858 shares of the biotechnology company’s stock worth $507,000 after purchasing an additional 70,196 shares during the period. 40.06% of the stock is owned by institutional investors.
About Aldeyra Therapeutics
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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