Shares of Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) were down 17.6% during mid-day trading on Friday . The stock traded as low as $8.15 and last traded at $8.90. Approximately 6,111,526 shares changed hands during trading, an increase of 1,391% from the average daily volume of 410,006 shares. The stock had previously closed at $10.80.

Several analysts recently issued reports on ALDX shares. Zacks Investment Research lowered shares of Aldeyra Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Stifel Nicolaus restated a “buy” rating and set a $16.00 target price on shares of Aldeyra Therapeutics in a research report on Wednesday, May 31st. HC Wainwright set a $18.00 target price on shares of Aldeyra Therapeutics and gave the company a “buy” rating in a research report on Thursday, June 15th. Canaccord Genuity set a $12.00 target price on shares of Aldeyra Therapeutics and gave the company a “buy” rating in a research report on Wednesday, June 14th. Finally, ValuEngine downgraded shares of Aldeyra Therapeutics from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.95.

The stock’s market cap is $55.58 million. The firm’s 50-day moving average is $4.74 and its 200 day moving average is $4.75.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.02. On average, analysts forecast that Aldeyra Therapeutics, Inc. will post ($1.63) EPS for the current fiscal year.

In other news, major shareholder Life Sciences Maste Perceptive acquired 296,007 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were acquired at an average price of $4.60 per share, with a total value of $1,361,632.20. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 28.40% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ALDX. Virtu KCG Holdings LLC acquired a new stake in shares of Aldeyra Therapeutics during the 2nd quarter worth approximately $104,000. Renaissance Technologies LLC acquired a new stake in shares of Aldeyra Therapeutics during the 1st quarter worth approximately $132,000. Hikari Power Ltd grew its stake in shares of Aldeyra Therapeutics by 186.4% during the 2nd quarter. Hikari Power Ltd now owns 107,858 shares of the biotechnology company’s stock worth $507,000 after purchasing an additional 70,196 shares during the period. Sabby Management LLC acquired a new stake in shares of Aldeyra Therapeutics during the 1st quarter worth approximately $898,000. Finally, Vanguard Group Inc. grew its stake in shares of Aldeyra Therapeutics by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 304,633 shares of the biotechnology company’s stock worth $1,431,000 after purchasing an additional 9,407 shares during the period. 49.09% of the stock is currently owned by institutional investors and hedge funds.

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Aldeyra Therapeutics Company Profile

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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