StockNews.com Lowers Aldeyra Therapeutics (NASDAQ:ALDX) to Sell

StockNews.com cut shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a hold rating to a sell rating in a report published on Monday morning.

ALDX has been the topic of a number of other reports. Oppenheimer reaffirmed an outperform rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a research note on Monday. HC Wainwright restated a buy rating and set a $10.00 price objective on shares of Aldeyra Therapeutics in a research report on Monday.

Aldeyra Therapeutics Stock Performance

Aldeyra Therapeutics stock opened at $4.07 on Monday. Aldeyra Therapeutics has a fifty-two week low of $1.42 and a fifty-two week high of $11.97. The stock has a market cap of $241.81 million, a P/E ratio of -7.98 and a beta of 1.45. The firm’s fifty day moving average price is $3.72 and its 200-day moving average price is $3.24.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its 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. Sell-side analysts predict that Aldeyra Therapeutics will post -0.14 earnings per share for the current year.

Insider Activity at Aldeyra Therapeutics

In other Aldeyra Therapeutics news, CEO Todd C. Brady sold 97,914 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $3.27, for a total value of $320,178.78. Following the completion of the sale, the chief executive officer now owns 1,556,622 shares of the company’s stock, valued at $5,090,153.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc bought 309,847 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were bought at an average price of $4.09 per share, for a total transaction of $1,267,274.23. Following the transaction, the insider now directly owns 9,097,858 shares in the company, valued at $37,210,239.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd C. Brady sold 97,914 shares of the company’s stock in a transaction dated 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 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. In the last three months, insiders have bought 355,933 shares of company stock valued at $1,473,245. Corporate insiders own 7.30% of the company’s stock.

Institutional Investors Weigh In On Aldeyra Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ALDX. Los Angeles Capital Management LLC increased its stake in Aldeyra Therapeutics by 240.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 380,773 shares of the biotechnology company’s stock worth $1,245,000 after purchasing an additional 269,061 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Aldeyra Therapeutics by 319.2% in the fourth quarter. International Assets Investment Management LLC now owns 205,335 shares of the biotechnology company’s stock worth $7,210,000 after purchasing an additional 156,353 shares during the last quarter. Laurion Capital Management LP increased its stake in shares of Aldeyra Therapeutics by 12.7% in the third quarter. Laurion Capital Management LP now owns 1,128,889 shares of the biotechnology company’s stock worth $7,541,000 after buying an additional 127,512 shares during the period. Strs Ohio raised its holdings in Aldeyra Therapeutics by 270.8% during the 4th quarter. Strs Ohio now owns 87,500 shares of the biotechnology company’s stock valued at $307,000 after buying an additional 63,900 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. purchased a new stake in Aldeyra Therapeutics during the 4th quarter valued at $216,000. 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.