Aldeyra Therapeutics (NASDAQ:ALDX) Stock Rating Lowered by Wall Street Zen

Aldeyra Therapeutics (NASDAQ:ALDX) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Separately, Weiss Ratings downgraded shares of Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.50.

Aldeyra Therapeutics Price Performance

ALDX opened at $1.56 on Friday. The company has a market cap of $94.11 million, a P/E ratio of -4.00 and a beta of 1.22. The firm’s 50-day moving average price is $1.81 and its 200-day moving average price is $2.59. Aldeyra Therapeutics has a 52-week low of $1.07 and a 52-week high of $6.17.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). On average, research analysts anticipate that Aldeyra Therapeutics will post -0.43 EPS for the current fiscal year.

Insider Activity at Aldeyra Therapeutics

In other news, CEO Todd C. Brady bought 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of $1.67 per share, for a total transaction of $417,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,721,298 shares in the company, valued at approximately $2,874,567.66. This represents a 16.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 11.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aldeyra Therapeutics

Institutional investors have recently bought and sold shares of the business. Abel Hall LLC acquired a new stake in Aldeyra Therapeutics during the 1st quarter valued at approximately $26,000. Krilogy Financial LLC acquired a new stake in shares of Aldeyra Therapeutics in the first quarter worth $26,000. Chicago Partners Investment Group LLC purchased a new position in shares of Aldeyra Therapeutics during the first quarter worth $33,000. Hikari Power Ltd purchased a new position in shares of Aldeyra Therapeutics during the second quarter worth $43,000. Finally, Caption Management LLC lifted its position in Aldeyra Therapeutics by 110.6% during the second quarter. Caption Management LLC now owns 12,664 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 132,358 shares during the period. 59.71% of the stock is owned by hedge funds and other institutional investors.

About Aldeyra Therapeutics

Aldeyra Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small molecule therapies for immune-mediated diseases. The company’s research efforts center on targeted alkenals, a class of reactive aldehyde species that play a key role in inflammatory pathways. By selectively modulating these pathways, Aldeyra aims to address both ocular and systemic indications with high unmet medical need.

The company’s lead product candidate, reproxalap, is being investigated in several ophthalmic disorders, including dry eye disease, allergic conjunctivitis and non-infectious anterior uveitis.