Aldeyra Therapeutics (NASDAQ:ALDX) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a sell rating to a hold rating in a research note published on Saturday.

Other research analysts have also recently issued reports about the company. BTIG Research reduced their price target on Aldeyra Therapeutics from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Monday, April 7th. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Aldeyra Therapeutics in a research report on Monday, May 19th.

Aldeyra Therapeutics Stock Up 1.3%

ALDX stock opened at $3.09 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.49 and a quick ratio of 6.49. The stock has a market capitalization of $185.09 million, a P/E ratio of -3.19 and a beta of 0.69. The business has a 50-day moving average of $2.47 and a 200-day moving average of $4.30. Aldeyra Therapeutics has a fifty-two week low of $1.14 and a fifty-two week high of $7.20.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.08. On average, sell-side analysts anticipate that Aldeyra Therapeutics will post -0.92 earnings per share for the current fiscal year.

Insider Activity at Aldeyra Therapeutics

In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $1.42, for a total value of $4,828,000.00. Following the sale, the insider now owns 5,875,851 shares in the company, valued at $8,343,708.42. This represents a 36.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.50% of the company’s stock.

Institutional Trading of Aldeyra Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in Aldeyra Therapeutics by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,119,555 shares of the biotechnology company’s stock valued at $5,588,000 after buying an additional 4,927 shares during the period. Wells Fargo & Company MN raised its stake in Aldeyra Therapeutics by 1.9% in the fourth quarter. Wells Fargo & Company MN now owns 393,654 shares of the biotechnology company’s stock valued at $1,964,000 after buying an additional 7,348 shares during the period. Intech Investment Management LLC raised its stake in Aldeyra Therapeutics by 62.7% in the fourth quarter. Intech Investment Management LLC now owns 23,806 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 9,178 shares during the period. Barclays PLC raised its stake in Aldeyra Therapeutics by 14.9% in the fourth quarter. Barclays PLC now owns 75,330 shares of the biotechnology company’s stock valued at $376,000 after buying an additional 9,769 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in Aldeyra Therapeutics in the fourth quarter valued at approximately $52,000. 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.