Aldeyra Therapeutics (NASDAQ:ALDX) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a sell rating to a hold rating in a research report released on Tuesday morning.

Several other equities analysts have also commented on the company. HC Wainwright reiterated a buy rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a research note on Monday, May 6th. Oppenheimer reaffirmed an outperform rating and set a $10.00 price objective on shares of Aldeyra Therapeutics in a research note on Monday, May 6th.

Aldeyra Therapeutics Trading Down 3.4 %

Shares of ALDX stock opened at $3.95 on Tuesday. The company has a market capitalization of $234.67 million, a price-to-earnings ratio of -7.75 and a beta of 1.45. The firm has a 50-day moving average price of $3.74 and a 200 day moving average price of $3.35. Aldeyra Therapeutics has a twelve month low of $1.42 and a twelve month high of $11.97.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings data on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.13. As a group, research analysts predict that Aldeyra Therapeutics will post -0.15 earnings per share for the current year.

Insider Activity at Aldeyra Therapeutics

In other news, major shareholder Perceptive Advisors Llc purchased 8,374 shares of the company’s stock in a transaction on Monday, April 1st. The stock was bought at an average cost of $3.25 per share, for a total transaction of $27,215.50. Following the completion of the purchase, the insider now directly owns 8,601,960 shares of the company’s stock, valued at approximately $27,956,370. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Bruce Greenberg sold 13,201 shares of Aldeyra Therapeutics stock in a transaction on Monday, March 11th. The shares were sold at an average price of $3.41, for a total transaction of $45,015.41. Following the transaction, the insider now owns 120,699 shares in the company, valued at approximately $411,583.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Perceptive Advisors Llc purchased 8,374 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were acquired at an average cost of $3.25 per share, with a total value of $27,215.50. Following the completion of the transaction, the insider now owns 8,601,960 shares in the company, valued at approximately $27,956,370. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 355,933 shares of company stock worth $1,473,245. 8.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALDX. Los Angeles Capital Management LLC lifted its position in Aldeyra Therapeutics by 240.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 380,773 shares of the biotechnology company’s stock worth $1,245,000 after acquiring an additional 269,061 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Aldeyra Therapeutics by 106.3% in the first quarter. Acadian Asset Management LLC now owns 452,449 shares of the biotechnology company’s stock valued at $1,478,000 after purchasing an additional 233,169 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in Aldeyra Therapeutics during the 1st quarter valued at $585,000. International Assets Investment Management LLC increased its stake in Aldeyra Therapeutics by 319.2% during the 4th quarter. International Assets Investment Management LLC now owns 205,335 shares of the biotechnology company’s stock worth $7,210,000 after buying an additional 156,353 shares during the period. Finally, Laurion Capital Management LP lifted its holdings in Aldeyra Therapeutics by 12.7% in the 3rd quarter. Laurion Capital Management LP now owns 1,128,889 shares of the biotechnology company’s stock worth $7,541,000 after buying an additional 127,512 shares in the last quarter. Institutional investors and hedge funds own 59.71% of the company’s stock.

Aldeyra Therapeutics Company Profile

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-κB, inflammasomes, and Scavenger Receptor A.