Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) Sees Large Increase in Short Interest

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) was the recipient of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 6,433,712 shares, an increase of 22.5% from the February 26th total of 5,253,462 shares. Currently, 11.7% of the shares of the company are sold short. Based on an average trading volume of 1,629,596 shares, the days-to-cover ratio is currently 3.9 days.

Insider Transactions at Aldeyra Therapeutics

In related news, Director Richard Douglas bought 70,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was bought at an average cost of $1.40 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the director directly owned 195,000 shares in the company, valued at approximately $273,000. The trade was a 56.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aldeyra Therapeutics

Several large investors have recently bought and sold shares of the stock. Inspirion Wealth Advisors LLC acquired a new stake in shares of Aldeyra Therapeutics in the 4th quarter worth approximately $52,000. Global Retirement Partners LLC bought a new position in shares of Aldeyra Therapeutics in the fourth quarter valued at approximately $52,000. CIBC Private Wealth Group LLC acquired a new position in shares of Aldeyra Therapeutics during the third quarter valued at approximately $55,000. BNP Paribas Financial Markets raised its holdings 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 worth $55,000 after purchasing an additional 2,859 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Aldeyra Therapeutics during the fourth quarter worth approximately $62,000. Institutional investors and hedge funds own 59.71% of the company’s stock.

Aldeyra Therapeutics Stock Performance

NASDAQ:ALDX opened at $1.77 on Monday. Aldeyra Therapeutics has a 1 year low of $1.07 and a 1 year high of $6.73. The stock has a market cap of $106.52 million, a price-to-earnings ratio of -3.11 and a beta of 0.97. The business has a fifty day moving average of $4.54 and a 200-day moving average of $4.86.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings data on Friday, February 27th. The biotechnology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. On average, equities research analysts predict that Aldeyra Therapeutics will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

ALDX has been the topic of a number of research reports. BTIG Research reiterated a “buy” rating on shares of Aldeyra Therapeutics in a research report on Tuesday, March 17th. Wall Street Zen lowered Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $2.00 target price (down from $10.00) on shares of Aldeyra Therapeutics in a research report on Wednesday, March 18th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.50.

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.