Aldeyra Therapeutics (NASDAQ:ALDX) Trading Down 6.4%

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Aldeyra Therapeutics, Inc (NASDAQ:ALDX)’s stock price was down 6.4% on Friday . The company traded as low as $6.25 and last traded at $6.43, approximately 1,416,298 shares were traded during mid-day trading. An increase of 88% from the average daily volume of 752,012 shares. The stock had previously closed at $6.87.

Several research firms recently weighed in on ALDX. Laidlaw reissued a “buy” rating and set a $30.00 price objective on shares of Aldeyra Therapeutics in a research report on Tuesday, May 26th. Janney Montgomery Scott restated a “market perform” rating and set a $28.00 price target on shares of Aldeyra Therapeutics in a research note on Tuesday, May 26th. Zacks Investment Research lowered Aldeyra Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 8th. Finally, Oppenheimer initiated coverage on Aldeyra Therapeutics in a research report on Tuesday, July 7th. They set a “buy” rating and a $15.00 price target on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Aldeyra Therapeutics currently has an average rating of “Buy” and a consensus price target of $21.75.

The company has a fifty day moving average price of $5.07 and a two-hundred day moving average price of $4.24. The company has a quick ratio of 12.84, a current ratio of 12.84 and a debt-to-equity ratio of 0.34.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.14. On average, sell-side analysts expect that Aldeyra Therapeutics, Inc will post -1.51 earnings per share for the current fiscal year.

In other news, major shareholder Perceptive Advisors Llc bought 3,200,000 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The stock was acquired at an average cost of $4.25 per share, for a total transaction of $13,600,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 15.00% of the company’s stock.

A number of hedge funds have recently modified their holdings of ALDX. Spark Investment Management LLC acquired a new stake in Aldeyra Therapeutics during the first quarter worth approximately $40,000. Squarepoint Ops LLC acquired a new stake in Aldeyra Therapeutics during the first quarter worth approximately $75,000. Acadian Asset Management LLC lifted its position in Aldeyra Therapeutics by 559.5% during the first quarter. Acadian Asset Management LLC now owns 33,098 shares of the biotechnology company’s stock worth $82,000 after acquiring an additional 28,079 shares during the last quarter. Tobias Financial Advisors Inc. acquired a new stake in Aldeyra Therapeutics during the first quarter worth approximately $84,000. Finally, Two Sigma Advisers LP lifted its position in Aldeyra Therapeutics by 239.6% during the first quarter. Two Sigma Advisers LP now owns 34,300 shares of the biotechnology company’s stock worth $85,000 after acquiring an additional 24,200 shares during the last quarter. Hedge funds and other institutional investors own 56.34% of the company’s stock.

About Aldeyra Therapeutics (NASDAQ:ALDX)

Aldeyra Therapeutics is a clinical-stage biotechnology company focused on the development of novel therapies with the potential to improve the lives of patients with immune-mediated diseases. Two of the company’s lead compounds, reproxalap and ADX-629, target reactive aldehyde species (RASP), which are elevated in ocular and systemic inflammatory disease, leading to elevated levels of cytokine release via activation of a broad array of inflammatory factors, including NF-?B, inflammasomes, and Scavenger Receptor A.

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