Raymond James & Associates Trims Holdings in Aldeyra Therapeutics, Inc (NASDAQ:ALDX)

Raymond James & Associates cut its position in shares of Aldeyra Therapeutics, Inc (NASDAQ:ALDX) by 35.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,784 shares of the biotechnology company’s stock after selling 18,267 shares during the quarter. Raymond James & Associates owned approximately 0.06% of Aldeyra Therapeutics worth $115,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ALDX. Laurion Capital Management LP raised its holdings in Aldeyra Therapeutics by 12.7% in the 3rd quarter. Laurion Capital Management LP now owns 1,128,889 shares of the biotechnology company’s stock valued at $7,541,000 after acquiring an additional 127,512 shares during the last quarter. Deutsche Bank AG increased its stake in Aldeyra Therapeutics by 2.2% in the third quarter. Deutsche Bank AG now owns 294,775 shares of the biotechnology company’s stock valued at $1,969,000 after purchasing an additional 6,470 shares during the last quarter. Rafferty Asset Management LLC lifted its position in Aldeyra Therapeutics by 6.1% during the third quarter. Rafferty Asset Management LLC now owns 268,690 shares of the biotechnology company’s stock worth $1,795,000 after buying an additional 15,469 shares during the period. Barclays PLC boosted its stake in Aldeyra Therapeutics by 9.0% in the 3rd quarter. Barclays PLC now owns 138,311 shares of the biotechnology company’s stock worth $924,000 after buying an additional 11,447 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in Aldeyra Therapeutics by 34.6% in the 3rd quarter. Citigroup Inc. now owns 113,036 shares of the biotechnology company’s stock valued at $755,000 after buying an additional 29,031 shares during the period. Institutional investors and hedge funds own 59.71% of the company’s stock.

Aldeyra Therapeutics Stock Up 6.6 %

Shares of ALDX stock opened at $4.20 on Thursday. Aldeyra Therapeutics, Inc has a fifty-two week low of $1.42 and a fifty-two week high of $11.97. The firm’s 50 day moving average price is $3.67 and its two-hundred day moving average price is $3.15. The stock has a market cap of $249.52 million, a price-to-earnings ratio of -6.56 and a beta of 1.51.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. On average, equities analysts forecast that Aldeyra Therapeutics, Inc will post -0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALDX. HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Aldeyra Therapeutics in a report on Tuesday, April 2nd. StockNews.com raised shares of Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, January 29th. Finally, Oppenheimer raised Aldeyra Therapeutics from a “market perform” rating to an “outperform” rating and set a $10.00 target price on the stock in a research report on Wednesday, April 3rd.

Insiders Place Their Bets

In related news, CEO Todd C. Brady sold 97,914 shares of the firm’s stock in a transaction dated 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 directly 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 accessible through this link. In other news, major shareholder Perceptive Advisors Llc bought 37,712 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was acquired at an average cost of $4.74 per share, for a total transaction of $178,754.88. Following the completion of the purchase, the insider now owns 9,275,851 shares of the company’s stock, valued at $43,967,533.74. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Todd C. Brady sold 97,914 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $3.27, for a total transaction of $320,178.78. Following the sale, the chief executive officer now directly owns 1,556,622 shares of the company’s stock, valued at $5,090,153.94. The disclosure for this sale can be found here. Insiders have purchased a total of 355,933 shares of company stock worth $1,473,245 over the last quarter. 7.30% of the stock is owned by corporate insiders.

Aldeyra Therapeutics 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.