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

Aldeyra Therapeutics (NASDAQ:ALDX) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

A number of other research firms have also commented on ALDX. Oppenheimer reissued an “outperform” rating and issued a $10.00 price target on shares of Aldeyra Therapeutics in a research report on Monday. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a report on Monday.

Aldeyra Therapeutics Stock Performance

Shares of ALDX stock traded down $0.04 during trading hours on Monday, hitting $4.12. 305,625 shares of the company were exchanged, compared to its average volume of 565,127. The firm has a market cap of $244.77 million, a P/E ratio of -8.08 and a beta of 1.45. The company has a 50 day simple moving average of $3.71 and a two-hundred day simple moving average of $3.22. Aldeyra Therapeutics has a fifty-two week low of $1.42 and a fifty-two week high of $11.97.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.13. As a group, sell-side analysts expect that Aldeyra Therapeutics will post -0.14 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Perceptive Advisors Llc purchased 8,374 shares of the business’s stock in a transaction on Monday, April 1st. The stock was purchased at an average cost of $3.25 per share, with a total value of $27,215.50. Following the acquisition, the insider now directly owns 8,601,960 shares in the company, valued at $27,956,370. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Todd C. Brady sold 97,914 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $3.27, for a total transaction of $320,178.78. Following the completion of the transaction, the chief executive officer now owns 1,556,622 shares of the company’s stock, valued at $5,090,153.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Perceptive Advisors Llc acquired 8,374 shares of the stock in a transaction dated Monday, April 1st. The shares were bought at an average price of $3.25 per share, for a total transaction of $27,215.50. Following 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 ninety days, insiders bought 355,933 shares of company stock worth $1,473,245. 7.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aldeyra Therapeutics

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new position in Aldeyra Therapeutics in the 3rd quarter worth $124,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Aldeyra Therapeutics by 89.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 73,669 shares of the biotechnology company’s stock valued at $492,000 after acquiring an additional 34,796 shares during the period. Fox Run Management L.L.C. bought a new position in Aldeyra Therapeutics during the 3rd quarter worth approximately $224,000. Barclays PLC increased its stake in Aldeyra Therapeutics by 9.0% in the 3rd quarter. Barclays PLC now owns 138,311 shares of the biotechnology company’s stock worth $924,000 after purchasing an additional 11,447 shares during the period. Finally, Citigroup Inc. lifted its position in Aldeyra Therapeutics by 34.6% in the third quarter. Citigroup Inc. now owns 113,036 shares of the biotechnology company’s stock valued at $755,000 after purchasing an additional 29,031 shares during the last quarter. 59.71% of the stock is currently owned by institutional investors.

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.