Short Interest in Aldeyra Therapeutics, Inc (NASDAQ:ALDX) Expands By 15.1%

Aldeyra Therapeutics, Inc (NASDAQ:ALDX) saw a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 2,360,000 shares, a growth of 15.1% from the March 31st total of 2,050,000 shares. Currently, 4.2% of the company’s shares are short sold. Based on an average trading volume of 584,200 shares, the days-to-cover ratio is presently 4.0 days.

Insider Transactions at Aldeyra Therapeutics

In related news, CEO Todd C. Brady sold 97,914 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $3.27, for a total value of $320,178.78. Following the sale, the chief executive officer now directly owns 1,556,622 shares in the company, valued at $5,090,153.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Perceptive Advisors Llc purchased 8,374 shares of the business’s stock in a transaction on Monday, April 1st. The shares were acquired at an average price of $3.25 per share, with a total value of $27,215.50. Following the completion of the transaction, the insider now owns 8,601,960 shares of the company’s stock, valued at approximately $27,956,370. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd C. Brady sold 97,914 shares of Aldeyra Therapeutics stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $3.27, for a total value 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 disclosure for this sale can be found here. Insiders purchased 355,933 shares of company stock worth $1,473,245 over the last ninety days. 7.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Aigen Investment Management LP bought a new position in Aldeyra Therapeutics in the 3rd quarter valued at about $80,000. Deutsche Bank AG lifted its holdings in shares of Aldeyra Therapeutics by 2.2% in the third quarter. Deutsche Bank AG now owns 294,775 shares of the biotechnology company’s stock valued at $1,969,000 after purchasing an additional 6,470 shares in the last quarter. Citigroup Inc. boosted its position in shares of Aldeyra Therapeutics by 34.6% during the third quarter. Citigroup Inc. now owns 113,036 shares of the biotechnology company’s stock valued at $755,000 after buying an additional 29,031 shares during the last quarter. International Assets Investment Management LLC grew its holdings in 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 in the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new stake in Aldeyra Therapeutics during the fourth quarter worth $35,000. 59.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALDX. HC Wainwright reiterated a “buy” rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a report on Tuesday, April 2nd. Oppenheimer upgraded shares of Aldeyra Therapeutics from a “market perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research report on Wednesday, April 3rd. Finally, StockNews.com raised shares of Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, January 29th.

Aldeyra Therapeutics Stock Performance

Shares of NASDAQ:ALDX opened at $4.05 on Tuesday. The firm has a market cap of $240.61 million, a P/E ratio of -6.33 and a beta of 1.51. Aldeyra Therapeutics has a 52-week low of $1.42 and a 52-week high of $11.97. The business’s 50 day simple moving average is $3.65 and its two-hundred day simple moving average is $3.16.

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

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.