Aldeyra Therapeutics’ (ALDX) “Sell (E+)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (e+) rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX) in a research note released on Wednesday morning,Weiss Ratings reports.

Several other equities research analysts have also recently weighed in on the stock. Wall Street Zen upgraded shares of Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 21st. Zacks Research upgraded shares of Aldeyra Therapeutics to a “hold” rating in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.50.

Aldeyra Therapeutics Price Performance

ALDX stock opened at $5.39 on Wednesday. Aldeyra Therapeutics has a 52-week low of $1.14 and a 52-week high of $7.20. The company has a 50-day moving average of $5.42 and a two-hundred day moving average of $4.03. The stock has a market capitalization of $322.86 million, a price-to-earnings ratio of -6.34 and a beta of 0.83.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.05. Equities analysts expect that Aldeyra Therapeutics will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Aldeyra Therapeutics

In other news, insider Stephen Machatha sold 22,073 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $5.15, for a total transaction of $113,675.95. Following the completion of the sale, the insider owned 221,799 shares of the company’s stock, valued at approximately $1,142,264.85. This trade represents a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.60% of the company’s stock.

Institutional Trading of Aldeyra Therapeutics

Several hedge funds have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in shares of Aldeyra Therapeutics by 275.4% during the second quarter. AQR Capital Management LLC now owns 1,473,812 shares of the biotechnology company’s stock worth $5,645,000 after buying an additional 1,081,257 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Aldeyra Therapeutics by 0.8% in the second quarter. Geode Capital Management LLC now owns 1,146,597 shares of the biotechnology company’s stock valued at $4,392,000 after purchasing an additional 8,769 shares in the last quarter. 683 Capital Management LLC increased its holdings in shares of Aldeyra Therapeutics by 126.9% in the second quarter. 683 Capital Management LLC now owns 1,080,000 shares of the biotechnology company’s stock valued at $4,136,000 after purchasing an additional 604,000 shares in the last quarter. Kingdon Capital Management L.L.C. acquired a new stake in shares of Aldeyra Therapeutics in the first quarter valued at approximately $4,479,000. Finally, Invesco Ltd. increased its holdings in shares of Aldeyra Therapeutics by 1,575.7% in the first quarter. Invesco Ltd. now owns 501,137 shares of the biotechnology company’s stock valued at $2,882,000 after purchasing an additional 471,231 shares in the last quarter. Institutional investors and hedge funds own 59.71% of the company’s stock.

About Aldeyra Therapeutics

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.