Aldeyra Therapeutics (NASDAQ:ALDX) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Aldeyra Therapeutics (NASDAQ:ALDX) from a hold rating to a sell rating in a research report released on Saturday.

A number of other equities analysts have also recently issued reports on the company. BTIG Research reissued a “buy” rating on shares of Aldeyra Therapeutics in a report on Tuesday, March 17th. HC Wainwright reiterated a “neutral” rating and issued a $2.00 price target (down from $10.00) on shares of Aldeyra Therapeutics in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.50.

Aldeyra Therapeutics Stock Up 23.2%

NASDAQ ALDX opened at $2.23 on Friday. The stock has a market cap of $134.20 million, a P/E ratio of -3.91 and a beta of 0.97. The company’s 50-day simple moving average is $4.74 and its 200 day simple moving average is $4.97. Aldeyra Therapeutics has a twelve month low of $1.07 and a twelve month high of $6.81.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings results on Friday, February 27th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.03. Research analysts anticipate that Aldeyra Therapeutics will post -0.92 earnings per share for the current year.

Insider Activity at Aldeyra Therapeutics

In other Aldeyra Therapeutics news, Director Richard Douglas bought 70,000 shares of Aldeyra Therapeutics stock in a transaction dated Thursday, March 19th. The shares were acquired at an average cost of $1.40 per share, with a total value of $98,000.00. Following the acquisition, the director directly owned 195,000 shares of the company’s stock, valued at $273,000. The trade was a 56.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Aldeyra Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its position in Aldeyra Therapeutics by 275.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,473,812 shares of the biotechnology company’s stock valued at $5,645,000 after purchasing an additional 1,081,257 shares during the last quarter. 683 Capital Management LLC raised its holdings in shares of Aldeyra Therapeutics by 86.6% in the fourth quarter. 683 Capital Management LLC now owns 1,530,000 shares of the biotechnology company’s stock valued at $7,925,000 after buying an additional 710,000 shares during the last quarter. Kennedy Capital Management LLC lifted its position in Aldeyra Therapeutics by 61.9% during the 3rd quarter. Kennedy Capital Management LLC now owns 1,112,213 shares of the biotechnology company’s stock worth $5,806,000 after buying an additional 425,245 shares in the last quarter. Bank of America Corp DE lifted its position in Aldeyra Therapeutics by 590.5% during the 3rd quarter. Bank of America Corp DE now owns 390,078 shares of the biotechnology company’s stock worth $2,036,000 after buying an additional 333,587 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Aldeyra Therapeutics by 49.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 947,551 shares of the biotechnology company’s stock worth $4,946,000 after acquiring an additional 313,395 shares during the last quarter. 59.71% of the stock is owned by institutional investors and hedge funds.

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.