Aldeyra Therapeutics Target of Unusually High Options Trading (NASDAQ:ALDX)

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) saw unusually large options trading activity on Tuesday. Stock investors bought 12,807 call options on the stock. This is an increase of 1,592% compared to the average volume of 757 call options.

Aldeyra Therapeutics Trading Up 27.7%

Shares of ALDX stock traded up $1.11 during midday trading on Tuesday, reaching $5.10. 6,317,924 shares of the stock were exchanged, compared to its average volume of 1,085,166. Aldeyra Therapeutics has a 1 year low of $1.14 and a 1 year high of $7.20. The firm has a market cap of $306.52 million, a PE ratio of -6.99 and a beta of 0.83. The company’s 50 day moving average is $5.11 and its two-hundred day moving average is $4.83.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.04. As a group, equities analysts expect that Aldeyra Therapeutics will post -0.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALDX has been the subject of several analyst reports. BTIG Research reissued a “buy” rating and set a $9.00 price target on shares of Aldeyra Therapeutics in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Aldeyra Therapeutics in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Aldeyra Therapeutics has a consensus rating of “Hold” and a consensus price target of $9.50.

Institutional Trading of Aldeyra Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its position in Aldeyra Therapeutics by 10.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,074 shares of the biotechnology company’s stock valued at $77,000 after acquiring an additional 1,972 shares during the period. Rhumbline Advisers grew its holdings in Aldeyra Therapeutics by 2.7% in the second quarter. Rhumbline Advisers now owns 77,494 shares of the biotechnology company’s stock worth $297,000 after purchasing an additional 2,018 shares during the period. Brighton Jones LLC increased its stake in shares of Aldeyra Therapeutics by 11.4% during the third quarter. Brighton Jones LLC now owns 19,945 shares of the biotechnology company’s stock valued at $104,000 after purchasing an additional 2,046 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Aldeyra Therapeutics by 36.9% during the third quarter. BNP Paribas Financial Markets now owns 10,610 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 2,859 shares during the last quarter. Finally, Strs Ohio lifted its holdings in shares of Aldeyra Therapeutics by 4.1% during the third quarter. Strs Ohio now owns 85,700 shares of the biotechnology company’s stock valued at $447,000 after purchasing an additional 3,400 shares during the last quarter. 59.71% of the stock is owned by hedge funds and other institutional investors.

About Aldeyra Therapeutics

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.