Aldeyra Therapeutics (NASDAQ:ALDX) Share Price Passes Below Fifty Day Moving Average – What’s Next?

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $4.97 and traded as low as $4.05. Aldeyra Therapeutics shares last traded at $4.18, with a volume of 548,605 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ALDX shares. Weiss Ratings restated a “sell (e+)” rating on shares of Aldeyra Therapeutics in a report on Wednesday, October 8th. BTIG Research reissued a “buy” rating and issued a $9.00 price target on shares of Aldeyra Therapeutics in a report on Monday, November 10th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.50.

Aldeyra Therapeutics Stock Performance

The firm has a 50 day moving average price of $4.97 and a two-hundred day moving average price of $5.08. The firm has a market capitalization of $251.47 million, a P/E ratio of -5.73 and a beta of 0.86.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.04. Equities research analysts forecast that Aldeyra Therapeutics, Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aldeyra Therapeutics

A number of large investors have recently made changes to their positions in ALDX. The Manufacturers Life Insurance Company boosted its stake in Aldeyra Therapeutics by 10.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,074 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 1,972 shares during the period. Rhumbline Advisers boosted its position in shares of Aldeyra Therapeutics by 2.7% in the second quarter. Rhumbline Advisers now owns 77,494 shares of the biotechnology company’s stock worth $297,000 after buying an additional 2,018 shares during the period. Brighton Jones LLC grew its holdings in shares of Aldeyra Therapeutics by 11.4% during the third quarter. Brighton Jones LLC now owns 19,945 shares of the biotechnology company’s stock valued at $104,000 after buying an additional 2,046 shares in the last quarter. BNP Paribas Financial Markets raised its position in Aldeyra Therapeutics by 36.9% during the third quarter. BNP Paribas Financial Markets now owns 10,610 shares of the biotechnology company’s stock valued at $55,000 after buying an additional 2,859 shares during the period. Finally, Strs Ohio raised its position in Aldeyra Therapeutics by 4.1% during the third quarter. Strs Ohio now owns 85,700 shares of the biotechnology company’s stock valued at $447,000 after buying an additional 3,400 shares during the period. Institutional investors and hedge funds own 59.71% of the company’s stock.

Aldeyra Therapeutics Company Profile

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.