Aldeyra Therapeutics (NASDAQ:ALDX) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a sell rating to a hold rating in a report published on Saturday.

Several other research firms have also recently issued reports on ALDX. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Aldeyra Therapeutics in a research report on Monday, May 19th. BTIG Research lowered their price target on Aldeyra Therapeutics from $11.00 to $9.00 and set a “buy” rating for the company in a report on Monday, April 7th.

Aldeyra Therapeutics Trading Down 3.8%

NASDAQ ALDX opened at $3.05 on Friday. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.24. Aldeyra Therapeutics has a 52 week low of $1.14 and a 52 week high of $7.20. The stock has a market capitalization of $182.70 million, a PE ratio of -3.14 and a beta of 0.68. The firm has a 50 day moving average of $2.45 and a two-hundred day moving average of $4.32.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.08. As a group, research analysts expect that Aldeyra Therapeutics will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $1.42, for a total transaction of $4,828,000.00. Following the transaction, the insider now directly owns 5,875,851 shares in the company, valued at approximately $8,343,708.42. This trade represents a 36.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 9.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALDX. Hsbc Holdings PLC purchased a new position in Aldeyra Therapeutics during the 4th quarter worth $52,000. Balyasny Asset Management L.P. purchased a new position in shares of Aldeyra Therapeutics during the fourth quarter worth about $56,000. Capital Advisors Wealth Management LLC purchased a new position in shares of Aldeyra Therapeutics during the first quarter worth about $62,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Aldeyra Therapeutics in the 1st quarter valued at approximately $63,000. Finally, Catalyst Funds Management Pty Ltd grew its stake in shares of Aldeyra Therapeutics by 2,083.3% in the 4th quarter. Catalyst Funds Management Pty Ltd now owns 13,100 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 12,500 shares during the last quarter. 59.71% of the stock is owned by hedge funds and other institutional investors.

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.