Aldeyra Therapeutics (NASDAQ:ALDX) Stock Rating Lowered by StockNews.com

Aldeyra Therapeutics (NASDAQ:ALDX) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Monday.

A number of other analysts have also weighed in on the stock. Oppenheimer restated an “outperform” rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a research report on Monday. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a research report on Monday.

Aldeyra Therapeutics Trading Up 1.2 %

NASDAQ ALDX opened at $4.17 on Monday. The firm has a market capitalization of $247.74 million, a price-to-earnings ratio of -8.18 and a beta of 1.45. The firm’s 50 day simple moving average is $3.72 and its 200 day simple moving average is $3.23. Aldeyra Therapeutics has a 1 year low of $1.42 and a 1 year high of $11.97.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.13. On average, equities research analysts forecast that Aldeyra Therapeutics will post -0.14 earnings per share for the current year.

Insider Activity

In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc purchased 37,712 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was purchased at an average price of $4.74 per share, with a total value of $178,754.88. Following the completion of the purchase, the insider now owns 9,275,851 shares of the company’s stock, valued at $43,967,533.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Bruce Greenberg sold 13,201 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $3.41, for a total transaction of $45,015.41. Following the completion of the transaction, the insider now owns 120,699 shares of the company’s stock, valued at $411,583.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Perceptive Advisors Llc purchased 37,712 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were acquired at an average cost of $4.74 per share, with a total value of $178,754.88. Following the purchase, the insider now directly owns 9,275,851 shares of the company’s stock, valued at approximately $43,967,533.74. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 355,933 shares of company stock valued at $1,473,245. Insiders own 7.30% of the company’s stock.

Hedge Funds Weigh In On Aldeyra Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Laurion Capital Management LP raised its stake in Aldeyra Therapeutics by 12.7% during the third quarter. Laurion Capital Management LP now owns 1,128,889 shares of the biotechnology company’s stock worth $7,541,000 after buying an additional 127,512 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Aldeyra Therapeutics by 240.9% during the first quarter. Los Angeles Capital Management LLC now owns 380,773 shares of the biotechnology company’s stock worth $1,245,000 after buying an additional 269,061 shares during the last quarter. Deutsche Bank AG raised its stake in Aldeyra Therapeutics by 2.2% during the third quarter. Deutsche Bank AG now owns 294,775 shares of the biotechnology company’s stock worth $1,969,000 after buying an additional 6,470 shares during the last quarter. Rafferty Asset Management LLC raised its stake in Aldeyra Therapeutics by 6.1% during the third quarter. Rafferty Asset Management LLC now owns 268,690 shares of the biotechnology company’s stock worth $1,795,000 after buying an additional 15,469 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Aldeyra Therapeutics by 319.2% during the fourth quarter. International Assets Investment Management LLC now owns 205,335 shares of the biotechnology company’s stock worth $7,210,000 after buying an additional 156,353 shares during the last quarter. Institutional investors own 59.71% of the company’s stock.

Aldeyra Therapeutics Company Profile

Aldeyra Therapeutics is a clinical-stage biotechnology company focused on the development of novel therapies with the potential to improve the lives of patients with immune-mediated diseases. Two of the company’s lead compounds, reproxalap and ADX-629, target reactive aldehyde species (RASP), which are elevated in ocular and systemic inflammatory disease, leading to elevated levels of cytokine release via activation of a broad array of inflammatory factors, including NF-?B, inflammasomes, and Scavenger Receptor A.