Aldeyra Therapeutics (NASDAQ:ALDX) Announces Earnings Results

Aldeyra Therapeutics (NASDAQ:ALDX) announced its quarterly earnings results on Thursday. The biotechnology company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09), FiscalAI reports.

Aldeyra Therapeutics Trading Down 2.5%

Shares of NASDAQ:ALDX traded down $0.04 on Friday, reaching $1.55. The company had a trading volume of 1,171,174 shares, compared to its average volume of 1,980,641. The firm has a market capitalization of $93.50 million, a PE ratio of -3.37 and a beta of 1.21. The firm’s 50 day simple moving average is $1.83 and its 200-day simple moving average is $2.73. Aldeyra Therapeutics has a 52-week low of $1.07 and a 52-week high of $6.17.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ALDX. Weiss Ratings lowered Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 20th. Wall Street Zen raised Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.50.

Insider Buying and Selling

In other Aldeyra Therapeutics news, CEO Todd C. Brady acquired 250,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average price of $1.67 per share, with a total value of $417,500.00. Following the transaction, the chief executive officer directly owned 1,721,298 shares of the company’s stock, valued at $2,874,567.66. This trade represents a 16.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Aldeyra Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its stake in shares of Aldeyra Therapeutics by 456.3% during the first quarter. AQR Capital Management LLC now owns 392,555 shares of the biotechnology company’s stock worth $2,257,000 after acquiring an additional 321,992 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Aldeyra Therapeutics during the 1st quarter worth approximately $218,000. Jane Street Group LLC purchased a new stake in Aldeyra Therapeutics during the 1st quarter worth approximately $1,024,000. Acadian Asset Management LLC grew its position in Aldeyra Therapeutics by 7,402.7% during the 1st quarter. Acadian Asset Management LLC now owns 95,960 shares of the biotechnology company’s stock worth $551,000 after purchasing an additional 94,681 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Aldeyra Therapeutics by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,146,597 shares of the biotechnology company’s stock valued at $4,392,000 after purchasing an additional 8,769 shares in the last quarter. 59.71% of the stock is currently owned by hedge funds and other institutional investors.

Aldeyra Therapeutics Company Profile

Aldeyra Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small molecule therapies for immune-mediated diseases. The company’s research efforts center on targeted alkenals, a class of reactive aldehyde species that play a key role in inflammatory pathways. By selectively modulating these pathways, Aldeyra aims to address both ocular and systemic indications with high unmet medical need.

The company’s lead product candidate, reproxalap, is being investigated in several ophthalmic disorders, including dry eye disease, allergic conjunctivitis and non-infectious anterior uveitis.