Aldeyra Therapeutics (NASDAQ:ALDX) Shares Pass Below Two Hundred Day Moving Average – Should You Sell?

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.21 and traded as low as $1.46. Aldeyra Therapeutics shares last traded at $1.48, with a volume of 568,926 shares trading hands.

Wall Street Analysts Forecast Growth

ALDX has been the topic of several analyst reports. Wall Street Zen cut shares of Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings raised Aldeyra Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.50.

Aldeyra Therapeutics Price Performance

The firm has a market capitalization of $89.29 million, a P/E ratio of -3.79 and a beta of 1.20. The company has a fifty day moving average of $1.71 and a 200 day moving average of $2.20.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). On average, sell-side analysts forecast that Aldeyra Therapeutics, Inc. will post -0.39 EPS for the current year.

Institutional Trading of Aldeyra Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ALDX. Vanguard Group Inc. boosted its position in shares of Aldeyra Therapeutics by 2.6% during the third quarter. Vanguard Group Inc. now owns 3,591,869 shares of the biotechnology company’s stock valued at $18,750,000 after buying an additional 90,276 shares during the last quarter. 683 Capital Management LLC grew its stake in shares of Aldeyra Therapeutics by 86.6% in the 4th quarter. 683 Capital Management LLC now owns 1,530,000 shares of the biotechnology company’s stock worth $7,925,000 after acquiring an additional 710,000 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Aldeyra Therapeutics by 275.4% in the second 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. BlackRock Inc. purchased a new stake in shares of Aldeyra Therapeutics in the second quarter valued at about $2,678,000. Finally, Kennedy Capital Management LLC lifted its position in shares of Aldeyra Therapeutics by 12.9% during the fourth quarter. Kennedy Capital Management LLC now owns 1,255,838 shares of the biotechnology company’s stock valued at $6,505,000 after purchasing an additional 143,625 shares in the last quarter. 59.71% of the stock is owned by hedge funds and other institutional investors.

About Aldeyra Therapeutics

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.