Aldeyra Therapeutics' (ALDX) "Sell (E+)" Rating Reaffirmed at Weiss Ratings

Key Points

• The stock rating of Aldeyra Therapeutics (ALDX) was reaffirmed as "sell (e+)" by Weiss Ratings, despite recent upgrades from other brokerages.
• Aldeyra Therapeutics' stock recently traded at $5.62 with a market capitalization of $336.34 million and a consensus target price of $9.50.
• Insider selling included a transaction where Stephen Machatha sold 22,073 shares at an average price of $5.15, reducing their ownership by 9.05%.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report)'s stock had its "sell (e+)" rating restated by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other brokerages have also weighed in on ALDX. Wall Street Zen raised Aldeyra Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Zacks Research upgraded Aldeyra Therapeutics to a "hold" rating in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $9.50.

Aldeyra Therapeutics Trading Up 0.1%

NASDAQ ALDX traded up $0.01 on Wednesday, hitting $5.62. 644,219 shares of the company's stock traded hands, compared to its average volume of 1,116,317. The firm has a market capitalization of $336.34 million, a PE ratio of -6.61 and a beta of 0.83. The firm's 50-day moving average price is $5.39 and its two-hundred day moving average price is $4.04. Aldeyra Therapeutics has a 1-year low of $1.14 and a 1-year high of $7.20.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last announced its earnings results on Thursday, August 7th. The biotechnology company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.05. On average, research analysts anticipate that Aldeyra Therapeutics will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Aldeyra Therapeutics news, insider Stephen Machatha sold 22,073 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $5.15, for a total value of $113,675.95. Following the completion of the transaction, the insider owned 221,799 shares of the company's stock, valued at approximately $1,142,264.85. This trade represents a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aldeyra Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Aldeyra Therapeutics in the 2nd quarter valued at approximately $25,000. Inspirion Wealth Advisors LLC acquired a new stake in shares of Aldeyra Therapeutics during the 2nd quarter worth about $38,000. King Wealth Management Group acquired a new stake in shares of Aldeyra Therapeutics during the 2nd quarter worth about $46,000. Caption Management LLC boosted its stake in shares of Aldeyra Therapeutics by 110.6% during the 2nd quarter. Caption Management LLC now owns 12,664 shares of the biotechnology company's stock worth $49,000 after purchasing an additional 132,358 shares during the last quarter. Finally, Corton Capital Inc. acquired a new stake in shares of Aldeyra Therapeutics during the 2nd quarter worth about $57,000. 59.71% of the stock is currently owned by institutional investors and hedge funds.

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-κB, inflammasomes, and Scavenger Receptor A.

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