Aldeyra Therapeutics (NASDAQ:ALDX) Stock Price Passes Above 50-Day Moving Average – What’s Next?

Aldeyra Therapeutics, Inc (NASDAQ:ALDX)’s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $6.01 and traded as high as $6.81. Aldeyra Therapeutics shares last traded at $6.68, with a volume of 797,432 shares.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reissued a “buy” rating and issued a $10.00 price objective on shares of Aldeyra Therapeutics in a report on Monday, March 3rd.

Aldeyra Therapeutics Price Performance

The business has a fifty day moving average of $6.03 and a 200 day moving average of $5.51. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.18.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its earnings results on Thursday, March 6th. The biotechnology company reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.30). As a group, sell-side analysts predict that Aldeyra Therapeutics, Inc will post -0.92 EPS for the current year.

Hedge Funds Weigh In On Aldeyra Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of Aldeyra Therapeutics during the 4th quarter worth about $3,628,000. ADAR1 Capital Management LLC lifted its position in Aldeyra Therapeutics by 114.4% during the fourth quarter. ADAR1 Capital Management LLC now owns 647,960 shares of the biotechnology company’s stock worth $3,233,000 after acquiring an additional 345,748 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Aldeyra Therapeutics by 163.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 476,949 shares of the biotechnology company’s stock worth $2,571,000 after acquiring an additional 295,864 shares during the last quarter. 683 Capital Management LLC bought a new stake in shares of Aldeyra Therapeutics during the fourth quarter worth approximately $1,447,000. Finally, Millennium Management LLC acquired a new position in shares of Aldeyra Therapeutics in the fourth quarter valued at approximately $808,000. 59.71% of the stock is currently owned by institutional investors and hedge funds.

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.