Aldeyra Therapeutics Inc (NASDAQ:ALDX) shares shot up 6.6% during trading on Tuesday . The company traded as high as $7.40 and last traded at $7.32, with a volume of 63,726 shares changing hands. The stock had previously closed at $6.87.

Separately, Stifel Nicolaus began coverage on Aldeyra Therapeutics in a report on Friday, July 1st. They issued a “buy” rating and a $16.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Aldeyra Therapeutics has an average rating of “Buy” and an average target price of $13.15.

The company’s 50-day moving average price is $5.84 and its 200-day moving average price is $5.57. The firm’s market cap is $45.46 million.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its earnings results on Wednesday, August 10th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.44) by $0.03. On average, equities analysts anticipate that Aldeyra Therapeutics Inc will post ($1.69) EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AWM Investment Company Inc. bought a new position in shares of Aldeyra Therapeutics during the second quarter worth about $5,222,000. Vanguard Group Inc. boosted its position in shares of Aldeyra Therapeutics by 3.1% in the second quarter. Vanguard Group Inc. now owns 125,125 shares of the biotechnology company’s stock worth $712,000 after buying an additional 3,718 shares during the period. BlackRock Fund Advisors boosted its position in shares of Aldeyra Therapeutics by 1,944.6% in the second quarter. BlackRock Fund Advisors now owns 20,630 shares of the biotechnology company’s stock worth $117,000 after buying an additional 19,621 shares during the period. FMR LLC boosted its position in shares of Aldeyra Therapeutics by 25.0% in the second quarter. FMR LLC now owns 1,797,811 shares of the biotechnology company’s stock worth $10,230,000 after buying an additional 360,000 shares during the period. Finally, Perceptive Advisors LLC boosted its position in shares of Aldeyra Therapeutics by 56.4% in the second quarter. Perceptive Advisors LLC now owns 1,940,458 shares of the biotechnology company’s stock worth $11,041,000 after buying an additional 700,000 shares during the period.

About Aldeyra Therapeutics

Aldeyra Therapeutics, Inc, formerly Aldexa Therapeutics, Inc, is a biotechnology company. The Company’s principal activities include raising capital and research and development activities. The Company’s segment is the identification and development of a treatment for diseases related to high levels of aldehydes.

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