HC Wainwright Reaffirms Buy Rating for Aldeyra Therapeutics (NASDAQ:ALDX)

Aldeyra Therapeutics (NASDAQ:ALDX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $10.00 price target on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 139.81% from the stock’s current price.

Several other research firms have also recently commented on ALDX. Oppenheimer restated an “outperform” rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a research note on Monday. StockNews.com upgraded shares of Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, January 29th.

Aldeyra Therapeutics Stock Performance

Shares of ALDX stock opened at $4.17 on Monday. Aldeyra Therapeutics has a 52-week low of $1.42 and a 52-week high of $11.97. The firm’s 50 day moving average price is $3.72 and its two-hundred day moving average price is $3.23. The stock has a market cap of $247.74 million, a PE ratio of -8.18 and a beta of 1.45.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings data on Thursday, March 7th. The biotechnology company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.13. As a group, sell-side analysts predict that Aldeyra Therapeutics will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Aldeyra Therapeutics

In other 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 transaction of $320,178.78. Following the sale, the chief executive officer now owns 1,556,622 shares in the company, valued at approximately $5,090,153.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, major shareholder Perceptive Advisors Llc bought 8,374 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was acquired at an average cost of $3.25 per share, for a total transaction of $27,215.50. Following the purchase, the insider now owns 8,601,960 shares of the company’s stock, valued at approximately $27,956,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd C. Brady sold 97,914 shares of the business’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 transaction, the chief executive officer now directly owns 1,556,622 shares in the company, valued at approximately $5,090,153.94. The disclosure for this sale can be found here. Over the last ninety days, 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

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Aigen Investment Management LP acquired a new position in shares of Aldeyra Therapeutics during the 3rd quarter worth approximately $80,000. Deutsche Bank AG grew its position in Aldeyra Therapeutics by 2.2% during the third quarter. Deutsche Bank AG now owns 294,775 shares of the biotechnology company’s stock worth $1,969,000 after buying an additional 6,470 shares in the last quarter. Citigroup Inc. grew its position in Aldeyra Therapeutics by 34.6% during the third quarter. Citigroup Inc. now owns 113,036 shares of the biotechnology company’s stock worth $755,000 after buying an additional 29,031 shares in the last quarter. International Assets Investment Management LLC increased its stake in Aldeyra Therapeutics by 319.2% during the 4th quarter. International Assets Investment Management LLC now owns 205,335 shares of the biotechnology company’s stock worth $7,210,000 after acquiring an additional 156,353 shares during the period. Finally, Prime Capital Investment Advisors LLC acquired a new position in Aldeyra Therapeutics in the 4th quarter valued at $35,000. 59.71% of the stock is currently owned by 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.