Aldeyra Therapeutics (NASDAQ:ALDX) Shares Pass Below 200-Day Moving Average – Should You Sell?

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 $2.37 and traded as low as $1.52. Aldeyra Therapeutics shares last traded at $1.56, with a volume of 478,445 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Aldeyra Therapeutics in a research note on Monday, August 17th. Wall Street Zen downgraded shares of Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. 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 stock. According to data from MarketBeat.com, Aldeyra Therapeutics currently has a consensus rating of “Hold” and a consensus price target of $5.50.

Aldeyra Therapeutics Price Performance

The stock has a market capitalization of $89.58 million, a price-to-earnings ratio of -3.81 and a beta of 1.21. The firm has a fifty day moving average of $1.77 and a 200 day moving average of $2.34.

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

Insider Buying and Selling at Aldeyra Therapeutics

In other news, CEO Todd C. Brady bought 250,000 shares of Aldeyra Therapeutics stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of $1.67 per share, with a total value 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 $2,874,567.66. The trade was a 16.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.80% of the company’s stock.

Institutional Trading of Aldeyra Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ALDX. Vanguard Group Inc. grew its stake in shares of Aldeyra Therapeutics by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,591,869 shares of the biotechnology company’s stock worth $18,750,000 after purchasing an additional 90,276 shares during the period. 683 Capital Management LLC lifted 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 in the last quarter. AQR Capital Management LLC grew its holdings in Aldeyra Therapeutics by 275.4% during 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. BlackRock Inc. purchased a new position in Aldeyra Therapeutics during the second quarter worth $2,678,000. Finally, Kennedy Capital Management LLC increased its position in 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 worth $6,505,000 after buying an additional 143,625 shares in the last quarter. 59.71% of the stock is currently owned by institutional investors and hedge funds.

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.