Aldeyra Therapeutics (NASDAQ:ALDX) Announces Earnings Results

Aldeyra Therapeutics (NASDAQ:ALDX) released its quarterly earnings results on Wednesday. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.08, Zacks reports.

Aldeyra Therapeutics Stock Performance

NASDAQ:ALDX opened at $2.16 on Friday. Aldeyra Therapeutics has a 12-month low of $1.14 and a 12-month high of $7.20. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $129.38 million, a PE ratio of -2.30 and a beta of 0.92. The firm has a 50-day moving average price of $3.65 and a 200 day moving average price of $4.76.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and set a $10.00 price target on shares of Aldeyra Therapeutics in a report on Friday, April 4th. BTIG Research reduced their target price on shares of Aldeyra Therapeutics from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, April 7th.

Insider Buying and Selling

In related news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $1.42, for a total value of $4,828,000.00. Following the completion of the transaction, the insider now owns 5,875,851 shares of the company’s stock, valued at $8,343,708.42. This represents a 36.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 9.60% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Aldeyra Therapeutics stock. AQR Capital Management LLC increased its holdings in Aldeyra Therapeutics, Inc (NASDAQ:ALDX) by 456.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 392,555 shares of the biotechnology company’s stock after purchasing an additional 321,992 shares during the period. AQR Capital Management LLC owned approximately 0.66% of Aldeyra Therapeutics worth $2,257,000 at the end of the most recent quarter. Hedge funds and other institutional investors 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.