Aldeyra Therapeutics (NASDAQ:ALDX) Share Price Passes Above 50-Day Moving Average – Here’s What Happened

Shares of Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $1.72 and traded as high as $1.96. Aldeyra Therapeutics shares last traded at $1.80, with a volume of 2,047,726 shares.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ALDX. Wall Street Zen raised Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. HC Wainwright restated a “neutral” rating and issued a $2.00 price objective (down from $10.00) on shares of Aldeyra Therapeutics in a report on Wednesday, March 18th. BTIG Research reaffirmed a “buy” rating on shares of Aldeyra Therapeutics in a research report on Tuesday, March 17th. Finally, Weiss Ratings cut shares of Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 20th. 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, the company has a consensus rating of “Hold” and a consensus target price of $5.50.

Aldeyra Therapeutics Stock Up 1.7%

The company’s 50-day simple moving average is $1.72 and its 200 day simple moving average is $3.34. The stock has a market capitalization of $110.39 million, a price-to-earnings ratio of -3.98 and a beta of 1.19.

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

Insiders Place Their Bets

In related news, CEO Todd C. Brady bought 250,000 shares of Aldeyra Therapeutics stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average cost of $1.67 per share, for a total transaction of $417,500.00. Following the acquisition, the chief executive officer owned 1,721,298 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On Aldeyra Therapeutics

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Aldeyra Therapeutics by 2.6% in the third quarter. Vanguard Group Inc. now owns 3,591,869 shares of the biotechnology company’s stock worth $18,750,000 after buying an additional 90,276 shares during the last quarter. 683 Capital Management LLC grew its stake in 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 valued at $7,925,000 after buying an additional 710,000 shares during the last quarter. AQR Capital Management LLC grew its stake 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 buying an additional 1,081,257 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in Aldeyra Therapeutics by 12.9% in the 4th quarter. Kennedy Capital Management LLC now owns 1,255,838 shares of the biotechnology company’s stock worth $6,505,000 after acquiring an additional 143,625 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Aldeyra Therapeutics by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,146,597 shares of the biotechnology company’s stock worth $4,392,000 after acquiring an additional 8,769 shares during the period. Institutional investors own 59.71% of the company’s stock.

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.