Aldeyra Therapeutics’ (ALDX) “Sell (E+)” Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (e+) rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX) in a research note released on Friday,Weiss Ratings reports.

Separately, Zacks Research upgraded shares of Aldeyra Therapeutics to a “hold” rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Aldeyra Therapeutics has an average rating of “Hold” and an average price target of $9.50.

Aldeyra Therapeutics Price Performance

ALDX stock opened at $5.24 on Friday. The company has a 50 day moving average price of $5.44 and a 200 day moving average price of $4.14. Aldeyra Therapeutics has a fifty-two week low of $1.14 and a fifty-two week high of $7.20. The stock has a market capitalization of $313.88 million, a PE ratio of -6.16 and a beta of 0.83.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its earnings results on Thursday, August 7th. The biotechnology company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.05. As a group, equities analysts expect that Aldeyra Therapeutics will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Aldeyra Therapeutics

In other news, insider Stephen Machatha sold 22,073 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $5.15, for a total transaction of $113,675.95. Following the completion of the transaction, the insider directly owned 221,799 shares in the company, valued at approximately $1,142,264.85. The trade was a 9.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new position in Aldeyra Therapeutics during the first quarter valued at approximately $63,000. Invesco Ltd. grew its holdings in shares of Aldeyra Therapeutics by 1,575.7% in the 1st quarter. Invesco Ltd. now owns 501,137 shares of the biotechnology company’s stock valued at $2,882,000 after buying an additional 471,231 shares during the period. Wellington Management Group LLP bought a new stake in shares of Aldeyra Therapeutics in the 1st quarter valued at $675,000. Strs Ohio acquired a new stake in Aldeyra Therapeutics during the 1st quarter worth $440,000. Finally, Pallas Capital Advisors LLC bought a new position in Aldeyra Therapeutics during the second quarter worth about $68,000. 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.