Balyasny Asset Management L.P. Acquires New Stake in Aldeyra Therapeutics, Inc (NASDAQ:ALDX)

Balyasny Asset Management L.P. purchased a new position in shares of Aldeyra Therapeutics, Inc (NASDAQ:ALDX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 11,278 shares of the biotechnology company’s stock, valued at approximately $56,000.

Other large investors also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Aldeyra Therapeutics in the 4th quarter worth approximately $3,628,000. ADAR1 Capital Management LLC increased its holdings in shares of Aldeyra Therapeutics by 114.4% in the fourth quarter. ADAR1 Capital Management LLC now owns 647,960 shares of the biotechnology company’s stock valued at $3,233,000 after purchasing an additional 345,748 shares during the last quarter. 683 Capital Management LLC purchased a new position in Aldeyra Therapeutics during the fourth quarter worth approximately $1,447,000. Kennondale Capital Management LLC purchased a new stake in Aldeyra Therapeutics in the 4th quarter valued at $755,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Aldeyra Therapeutics by 21.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 735,763 shares of the biotechnology company’s stock worth $3,672,000 after acquiring an additional 131,722 shares during the last quarter. Hedge funds and other institutional investors own 59.71% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of Aldeyra Therapeutics stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $1.42, for a total value of $4,828,000.00. Following the completion of the sale, the insider now directly owns 5,875,851 shares of the company’s stock, valued at approximately $8,343,708.42. The trade was a 36.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $10.00 price target on shares of Aldeyra Therapeutics in a research report on Monday. BTIG Research reduced their price target on shares of Aldeyra Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday, April 7th.

Aldeyra Therapeutics Stock Up 12.0%

Shares of NASDAQ:ALDX opened at $2.42 on Tuesday. The company has a market capitalization of $144.95 million, a price-to-earnings ratio of -2.49 and a beta of 0.92. Aldeyra Therapeutics, Inc has a 12-month low of $1.14 and a 12-month high of $7.20. The business has a 50-day moving average price of $3.47 and a 200 day moving average price of $4.71. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.18.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.08. Sell-side analysts expect that Aldeyra Therapeutics, Inc will post -0.92 EPS for the current year.

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.