Aldeyra Therapeutics (NASDAQ:ALDX) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.17 and traded as low as $4.91. Aldeyra Therapeutics shares last traded at $5.02, with a volume of 660,068 shares traded.

Wall Street Analysts Forecast Growth

Separately, BTIG Research reissued a “buy” rating and issued a $9.00 target price on shares of Aldeyra Therapeutics in a report on Monday, November 10th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.50.

Aldeyra Therapeutics Stock Down 2.5%

The stock has a market cap of $302.00 million, a PE ratio of -6.88 and a beta of 0.98. The stock’s fifty day moving average price is $4.97 and its 200 day moving average price is $5.17.

Hedge Funds Weigh In On Aldeyra Therapeutics

A number of hedge funds have recently bought and sold shares of ALDX. XTX Topco Ltd boosted its holdings in shares of Aldeyra Therapeutics by 22.5% during the 4th quarter. XTX Topco Ltd now owns 42,227 shares of the biotechnology company’s stock valued at $219,000 after acquiring an additional 7,761 shares during the last quarter. Caption Management LLC bought a new position in Aldeyra Therapeutics during the fourth quarter valued at approximately $181,000. 683 Capital Management LLC boosted its holdings in 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 worth $7,925,000 after purchasing an additional 710,000 shares during the last quarter. ACT Capital Management LLC bought a new stake in Aldeyra Therapeutics in the 4th quarter worth approximately $212,000. Finally, Jump Financial LLC bought a new stake in Aldeyra Therapeutics in the 4th quarter worth approximately $127,000. Hedge funds and other institutional investors own 59.71% of the company’s stock.

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.