Aldeyra Therapeutics (NASDAQ:ALDX) Releases Earnings Results, Beats Expectations By $0.07 EPS

Aldeyra Therapeutics (NASDAQ:ALDX) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.07, FiscalAI reports.

Aldeyra Therapeutics Stock Performance

NASDAQ:ALDX traded down $0.01 during mid-day trading on Thursday, reaching $1.73. The stock had a trading volume of 641,492 shares, compared to its average volume of 1,352,462. The firm has a 50 day moving average price of $2.62 and a two-hundred day moving average price of $4.18. The stock has a market capitalization of $104.35 million, a P/E ratio of -3.04 and a beta of 1.16. Aldeyra Therapeutics has a one year low of $1.07 and a one year high of $6.18.

Analysts Set New Price Targets

ALDX has been the subject of a number of research analyst reports. Wall Street Zen upgraded Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, April 18th. BTIG Research reiterated a “buy” rating on shares of Aldeyra Therapeutics in a research report on Tuesday, March 17th. Finally, HC Wainwright reiterated a “neutral” rating and set a $2.00 price target (down from $10.00) on shares of Aldeyra Therapeutics in a research report on Wednesday, March 18th. One 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 stock currently has an average rating of “Hold” and a consensus price target of $5.50.

Insiders Place Their Bets

In other news, Director Richard Douglas bought 70,000 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was bought at an average price of $1.40 per share, for a total transaction of $98,000.00. Following the transaction, the director directly owned 195,000 shares of the company’s stock, valued at $273,000. This represents a 56.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is owned by insiders.

Institutional Trading of Aldeyra Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC grew its holdings in shares of Aldeyra Therapeutics by 456.3% in the first quarter. AQR Capital Management LLC now owns 392,555 shares of the biotechnology company’s stock worth $2,257,000 after purchasing an additional 321,992 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Aldeyra Therapeutics during the 1st quarter valued at $218,000. Jane Street Group LLC bought a new stake in Aldeyra Therapeutics during the 1st quarter valued at $1,024,000. Acadian Asset Management LLC raised its holdings in Aldeyra Therapeutics by 7,402.7% during the 1st quarter. Acadian Asset Management LLC now owns 95,960 shares of the biotechnology company’s stock valued at $551,000 after buying an additional 94,681 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Aldeyra Therapeutics by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,146,597 shares of the biotechnology company’s stock valued at $4,392,000 after buying an additional 8,769 shares during the last quarter. 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.