StockNews.com Begins Coverage on Aldeyra Therapeutics (NASDAQ:ALDX)

Investment analysts at StockNews.com started coverage on shares of Aldeyra Therapeutics (NASDAQ:ALDX – Get Rating) in a research note issued to investors on Thursday. The firm set a “hold” rating on the biotechnology company’s stock.

Several other equities research analysts also recently commented on ALDX. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Aldeyra Therapeutics in a report on Friday, March 10th. Citigroup boosted their price target on Aldeyra Therapeutics from $23.00 to $28.00 in a research note on Friday, March 10th.

Aldeyra Therapeutics Price Performance

NASDAQ ALDX opened at $7.55 on Thursday. Aldeyra Therapeutics has a one year low of $2.36 and a one year high of $8.08. The stock has a 50-day moving average of $6.72 and a 200 day moving average of $6.20. The company has a market capitalization of $442.25 million, a price-to-earnings ratio of -7.12 and a beta of 1.07. The company has a debt-to-equity ratio of 0.10, a quick ratio of 11.78 and a current ratio of 11.78.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in Aldeyra Therapeutics by 21.3% in the 1st quarter. JPMorgan Chase & Co. now owns 22,835 shares of the biotechnology company’s stock worth $101,000 after purchasing an additional 4,012 shares in the last quarter. Raymond James & Associates lifted its holdings in Aldeyra Therapeutics by 21.2% in the 1st quarter. Raymond James & Associates now owns 26,306 shares of the biotechnology company’s stock worth $117,000 after purchasing an additional 4,609 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Aldeyra Therapeutics by 12.2% in the 1st quarter. Bank of New York Mellon Corp now owns 209,815 shares of the biotechnology company’s stock worth $932,000 after purchasing an additional 22,748 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Aldeyra Therapeutics by 11.7% during the 1st quarter. Rhumbline Advisers now owns 47,596 shares of the biotechnology company’s stock worth $212,000 after acquiring an additional 4,996 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Aldeyra Therapeutics by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 2,961,635 shares of the biotechnology company’s stock worth $13,165,000 after acquiring an additional 147,711 shares in the last quarter. 63.11% of the stock is owned by hedge funds and other institutional investors.

About Aldeyra Therapeutics

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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.