Aldeyra Therapeutics, Inc (NASDAQ:ALDX) Sees Significant Growth in Short Interest

Aldeyra Therapeutics, Inc (NASDAQ:ALDX) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 3,890,000 shares, an increase of 6.0% from the October 31st total of 3,670,000 shares. Based on an average daily trading volume, of 493,300 shares, the short-interest ratio is presently 7.9 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALDX. Diversified Trust Co acquired a new position in shares of Aldeyra Therapeutics in the 2nd quarter valued at approximately $41,000. Federated Hermes Inc. acquired a new position in shares of Aldeyra Therapeutics in the second quarter valued at approximately $1,758,000. International Assets Investment Management LLC increased its position in shares of Aldeyra Therapeutics by 397.0% during the third quarter. International Assets Investment Management LLC now owns 287,287 shares of the biotechnology company’s stock worth $15,480,000 after acquiring an additional 229,487 shares in the last quarter. Perceptive Advisors LLC raised its holdings in shares of Aldeyra Therapeutics by 7.9% during the second quarter. Perceptive Advisors LLC now owns 9,275,851 shares of the biotechnology company’s stock worth $30,703,000 after acquiring an additional 682,265 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Aldeyra Therapeutics by 7.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,273 shares of the biotechnology company’s stock valued at $158,000 after acquiring an additional 3,446 shares in the last quarter. 59.71% of the stock is owned by institutional investors and hedge funds.

Aldeyra Therapeutics Trading Up 1.9 %

Shares of NASDAQ ALDX traded up $0.09 during mid-day trading on Wednesday, hitting $4.83. 58,303 shares of the stock were exchanged, compared to its average volume of 495,103. Aldeyra Therapeutics has a twelve month low of $2.71 and a twelve month high of $6.55. The stock’s fifty day simple moving average is $5.19 and its two-hundred day simple moving average is $4.67. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.80 and a current ratio of 6.80.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings results on Thursday, November 7th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.25). As a group, equities research analysts forecast that Aldeyra Therapeutics will post -0.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of Aldeyra Therapeutics in a research note on Friday, August 9th.

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.