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

Aldeyra Therapeutics (NASDAQ:ALDX) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other research analysts also recently commented on the company. Weiss Ratings downgraded Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 20th. BTIG Research reaffirmed a “buy” rating on shares of Aldeyra Therapeutics in a research note on Tuesday, March 17th. 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 note on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.50.

Aldeyra Therapeutics Stock Performance

NASDAQ ALDX opened at $1.63 on Friday. The business has a fifty day moving average price of $1.68 and a 200 day moving average price of $3.68. Aldeyra Therapeutics has a one year low of $1.07 and a one year high of $6.18. The company has a market cap of $98.32 million, a P/E ratio of -3.54 and a beta of 1.19.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.07. As a group, sell-side analysts predict that Aldeyra Therapeutics will post -0.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Todd C. Brady bought 250,000 shares of the business’s stock in a transaction 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 purchase, the chief executive officer directly owned 1,721,298 shares of the company’s stock, valued at $2,874,567.66. The trade was a 16.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard Douglas bought 70,000 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was bought at an average cost of $1.40 per share, with a total value 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 ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 325,000 shares of company stock valued at $522,600 over the last ninety days. Corporate insiders own 11.80% of the company’s stock.

Institutional Trading of Aldeyra Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its position in Aldeyra Therapeutics by 456.3% in the first quarter. AQR Capital Management LLC now owns 392,555 shares of the biotechnology company’s stock valued at $2,257,000 after buying an additional 321,992 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Aldeyra Therapeutics during the first quarter worth about $218,000. Jane Street Group LLC purchased a new position in Aldeyra Therapeutics during the first quarter worth about $1,024,000. Acadian Asset Management LLC boosted its stake in Aldeyra Therapeutics by 7,402.7% during the first quarter. Acadian Asset Management LLC now owns 95,960 shares of the biotechnology company’s stock worth $551,000 after buying an additional 94,681 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Aldeyra Therapeutics by 0.8% during the second quarter. Geode Capital Management LLC now owns 1,146,597 shares of the biotechnology company’s stock worth $4,392,000 after buying an additional 8,769 shares during the period. 59.71% of the stock is owned by institutional investors and hedge funds.

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.