Aldeyra Therapeutics (NASDAQ:ALDX) Downgraded to Sell at StockNews.com

StockNews.com lowered shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a hold rating to a sell rating in a report released on Monday.

Other equities analysts have also issued reports about the company. Oppenheimer reiterated an outperform rating and set a $10.00 price objective on shares of Aldeyra Therapeutics in a research report on Monday. HC Wainwright reissued a buy rating and set a $10.00 price target on shares of Aldeyra Therapeutics in a research note on Monday.

Aldeyra Therapeutics Price Performance

ALDX stock opened at $4.12 on Monday. The firm has a 50 day simple moving average of $3.71 and a two-hundred day simple moving average of $3.22. The stock has a market cap of $244.77 million, a PE ratio of -8.08 and a beta of 1.45. Aldeyra Therapeutics has a one year low of $1.42 and a one year high of $11.97.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.13. On average, research analysts expect that Aldeyra Therapeutics will post -0.14 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Perceptive Advisors Llc purchased 37,712 shares of Aldeyra Therapeutics stock in a transaction that occurred on Friday, April 5th. The shares were acquired at an average cost of $4.74 per share, for a total transaction of $178,754.88. Following the transaction, the insider now directly owns 9,275,851 shares in the company, valued at $43,967,533.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Todd C. Brady sold 97,914 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $3.27, for a total transaction of $320,178.78. Following the completion of the transaction, the chief executive officer now directly owns 1,556,622 shares of the company’s stock, valued at $5,090,153.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Perceptive Advisors Llc bought 37,712 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were purchased at an average price of $4.74 per share, with a total value of $178,754.88. Following the completion of the acquisition, the insider now owns 9,275,851 shares of the company’s stock, valued at approximately $43,967,533.74. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 355,933 shares of company stock valued at $1,473,245. Insiders own 7.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Prime Capital Investment Advisors LLC bought a new position in shares of Aldeyra Therapeutics during the fourth quarter valued at approximately $35,000. SG Americas Securities LLC bought a new position in Aldeyra Therapeutics in the 4th quarter worth $39,000. NorthRock Partners LLC purchased a new stake in shares of Aldeyra Therapeutics in the 4th quarter worth about $42,000. Aigen Investment Management LP bought a new stake in shares of Aldeyra Therapeutics during the 3rd quarter valued at about $80,000. Finally, Pale Fire Capital SE purchased a new position in shares of Aldeyra Therapeutics during the third quarter valued at about $98,000. Institutional investors own 59.71% of the company’s stock.

Aldeyra Therapeutics Company Profile

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.