Aldeyra Therapeutics (NASDAQ:ALDX) Stock Rating Lowered by StockNews.com

Aldeyra Therapeutics (NASDAQ:ALDX) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Several other analysts have also weighed in on the company. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Aldeyra Therapeutics in a research note on Monday, May 6th. Oppenheimer restated an “outperform” rating and issued a $10.00 price target on shares of Aldeyra Therapeutics in a research note on Monday, May 6th.

Aldeyra Therapeutics Trading Down 2.1 %

Shares of Aldeyra Therapeutics stock opened at $3.79 on Wednesday. The company has a market cap of $225.16 million, a PE ratio of -7.43 and a beta of 1.45. The company has a 50 day moving average of $3.81 and a 200-day moving average of $3.39. Aldeyra Therapeutics has a 1-year low of $1.42 and a 1-year high of $11.97.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.06). Research analysts forecast that Aldeyra Therapeutics will post -0.15 earnings per share for the current year.

Insider Activity at Aldeyra Therapeutics

In other news, major shareholder Perceptive Advisors Llc bought 309,847 shares of the stock in a transaction on Wednesday, April 3rd. The stock was acquired at an average price of $4.09 per share, with a total value of $1,267,274.23. Following the acquisition, the insider now directly owns 9,097,858 shares in the company, valued at $37,210,239.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc purchased 309,847 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was purchased at an average cost of $4.09 per share, for a total transaction of $1,267,274.23. Following the transaction, the insider now owns 9,097,858 shares in the company, valued at approximately $37,210,239.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bruce Greenberg sold 13,201 shares of Aldeyra Therapeutics stock in a transaction on Monday, March 11th. The stock was sold at an average price of $3.41, for a total transaction of $45,015.41. Following the transaction, the insider now owns 120,699 shares in the company, valued at approximately $411,583.59. The disclosure for this sale can be found here. Insiders have bought a total of 355,933 shares of company stock valued at $1,473,245 in the last 90 days. 8.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aldeyra Therapeutics

Institutional investors have recently made changes to their positions in the stock. Aigen Investment Management LP acquired a new position in shares of Aldeyra Therapeutics in the third quarter worth approximately $80,000. Deutsche Bank AG lifted its position in shares of Aldeyra Therapeutics by 2.2% in the 3rd quarter. Deutsche Bank AG now owns 294,775 shares of the biotechnology company’s stock worth $1,969,000 after purchasing an additional 6,470 shares during the period. Citigroup Inc. lifted its position in shares of Aldeyra Therapeutics by 34.6% in the 3rd quarter. Citigroup Inc. now owns 113,036 shares of the biotechnology company’s stock worth $755,000 after purchasing an additional 29,031 shares during the period. International Assets Investment Management LLC increased its position in shares of Aldeyra Therapeutics by 319.2% during the fourth quarter. International Assets Investment Management LLC now owns 205,335 shares of the biotechnology company’s stock worth $7,210,000 after buying an additional 156,353 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Aldeyra Therapeutics during the fourth quarter worth $392,000. 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.