Aldeyra Therapeutics (NASDAQ:ALDX) Shares Pass Below 200 Day Moving Average – What’s Next?

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.50 and traded as low as $1.7450. Aldeyra Therapeutics shares last traded at $1.78, with a volume of 926,923 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ALDX shares. BTIG Research reaffirmed a “buy” rating on shares of Aldeyra Therapeutics in a report on Tuesday, March 17th. Wall Street Zen upgraded Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings downgraded Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 20th. Finally, HC Wainwright restated a “neutral” rating and issued a $2.00 price target (down from $10.00) on shares of Aldeyra Therapeutics in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.50.

Aldeyra Therapeutics Trading Up 1.1%

The stock has a market capitalization of $107.37 million, a P/E ratio of -3.87 and a beta of 1.19. The business has a 50-day moving average price of $1.68 and a 200 day moving average price of $3.50.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.07. On average, sell-side analysts predict that Aldeyra Therapeutics, Inc. will post -0.43 earnings per share for the current fiscal year.

Insider Transactions at Aldeyra Therapeutics

In other Aldeyra Therapeutics news, Director Richard Douglas purchased 70,000 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was purchased at an average price of $1.40 per share, with a total value of $98,000.00. Following the acquisition, the director owned 195,000 shares in the company, valued at approximately $273,000. The trade was a 56.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd C. Brady purchased 250,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was acquired at an average cost of $1.67 per share, with a total value of $417,500.00. Following the acquisition, the chief executive officer owned 1,721,298 shares in the company, valued at $2,874,567.66. The trade was a 16.99% increase in their position. The disclosure for this purchase is available in the SEC filing. 11.80% of the stock is currently owned by company insiders.

Institutional Trading of Aldeyra Therapeutics

Institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its stake in Aldeyra Therapeutics by 146.6% in the first quarter. Renaissance Technologies LLC now owns 863,187 shares of the biotechnology company’s stock worth $1,459,000 after purchasing an additional 513,187 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Aldeyra Therapeutics by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 624,170 shares of the biotechnology company’s stock worth $1,055,000 after purchasing an additional 11,912 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Aldeyra Therapeutics by 18.1% in the first quarter. Bank of New York Mellon Corp now owns 136,746 shares of the biotechnology company’s stock worth $231,000 after purchasing an additional 20,980 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in Aldeyra Therapeutics in the first quarter worth about $33,000. Finally, Abel Hall LLC bought a new stake in Aldeyra Therapeutics in the first quarter worth about $26,000. 59.71% of the stock is currently owned by 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.