Aldeyra Therapeutics (NASDAQ:ALDX) Upgraded to Hold at Wall Street Zen

Aldeyra Therapeutics (NASDAQ:ALDX) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

ALDX has been the subject of a number of other reports. BTIG Research cut their price objective on Aldeyra Therapeutics from $11.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, April 7th. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Aldeyra Therapeutics in a research note on Monday, May 19th.

Aldeyra Therapeutics Price Performance

NASDAQ ALDX opened at $3.05 on Friday. Aldeyra Therapeutics has a 52 week low of $1.14 and a 52 week high of $7.20. The firm has a market capitalization of $182.70 million, a P/E ratio of -3.14 and a beta of 0.68. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $2.45 and a 200-day moving average price of $4.32.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.08. Equities research analysts anticipate that Aldeyra Therapeutics will post -0.92 earnings per share for the current year.

Insider Activity at Aldeyra Therapeutics

In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 5,875,851 shares in the company, valued at $8,343,708.42. This represents a 36.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new position in Aldeyra Therapeutics in the 1st quarter worth approximately $440,000. Acadian Asset Management LLC boosted its stake in Aldeyra Therapeutics by 7,402.7% in the 1st quarter. Acadian Asset Management LLC now owns 95,960 shares of the biotechnology company’s stock worth $551,000 after purchasing an additional 94,681 shares during the period. Jane Street Group LLC bought a new position in Aldeyra Therapeutics in the 1st quarter worth approximately $1,024,000. Jacobs Levy Equity Management Inc. bought a new position in Aldeyra Therapeutics in the 1st quarter worth approximately $218,000. Finally, AQR Capital Management LLC boosted its stake in Aldeyra Therapeutics by 456.3% in the 1st quarter. AQR Capital Management LLC now owns 392,555 shares of the biotechnology company’s stock worth $2,257,000 after purchasing an additional 321,992 shares during the period. 59.71% of the stock is currently owned by institutional investors.

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.