Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) Sees Large Drop in Short Interest

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 3,594,821 shares, a drop of 36.7% from the June 30th total of 5,675,750 shares. Based on an average daily trading volume, of 1,809,105 shares, the short-interest ratio is currently 2.0 days. Approximately 6.8% of the company’s shares are sold short.

Insider Transactions at Aldeyra Therapeutics

In other news, CEO Todd C. Brady bought 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were acquired at an average price of $1.67 per share, for a total transaction of $417,500.00. Following the completion of the acquisition, the chief executive officer directly owned 1,721,298 shares in the company, valued at approximately $2,874,567.66. This represents a 16.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 11.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aldeyra Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ALDX. Abel Hall LLC acquired a new stake in shares of Aldeyra Therapeutics in the 1st quarter valued at about $26,000. Krilogy Financial LLC acquired a new position in Aldeyra Therapeutics during the 1st quarter worth approximately $26,000. Chicago Partners Investment Group LLC acquired a new position in Aldeyra Therapeutics during the 1st quarter worth approximately $33,000. Caption Management LLC boosted its holdings in Aldeyra Therapeutics by 110.6% in the second quarter. Caption Management LLC now owns 12,664 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 132,358 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in Aldeyra Therapeutics in the fourth quarter worth approximately $52,000. Institutional investors own 59.71% of the company’s stock.

Aldeyra Therapeutics Stock Down 3.8%

NASDAQ:ALDX opened at $1.54 on Friday. Aldeyra Therapeutics has a twelve month low of $1.07 and a twelve month high of $6.17. The company has a fifty day moving average of $1.84 and a 200-day moving average of $2.82. The firm has a market capitalization of $92.89 million, a P/E ratio of -3.35 and a beta of 1.16.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.07. On average, analysts anticipate that Aldeyra Therapeutics will post -0.43 EPS for the current fiscal year.

Analysts Set New Price Targets

ALDX has been the topic of a number of recent analyst reports. Wall Street Zen raised Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings cut Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 20th. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $5.50.

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.