Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) Short Interest Update

Key Points

• Short interest fell 36.7% to 3.59 million shares as of July 15, representing about 6.8% of outstanding shares and a two-day days-to-cover ratio.
• CEO Todd C. Brady purchased 250,000 shares for approximately $417,500, increasing his position by nearly 17%; insiders own 11.8% of the company, while institutional investors own 59.71%.
• ALDX opened at $1.61, well below its 12-month high of $6.17. Analysts maintain a consensus “Hold” rating with a $5.50 price target, while the company’s latest quarterly loss nevertheless beat expectations.

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX - Get Free Report) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 3,594,821 shares, a drop of 36.7% from the June 30th total of 5,675,750 shares. Based on an average daily trading volume, of 1,809,105 shares, the days-to-cover ratio is currently 2.0 days. Approximately 6.8% of the shares of the company are sold short.

Insider Buying and Selling at Aldeyra Therapeutics

In other Aldeyra Therapeutics news, CEO Todd C. Brady bought 250,000 shares of Aldeyra Therapeutics stock in a transaction dated Wednesday, June 3rd. The stock was bought at an average price of $1.67 per share, with a total value of $417,500.00. Following the completion of the transaction, the chief executive officer owned 1,721,298 shares in the company, valued at $2,874,567.66. The trade was a 16.99% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 11.80% of the company's stock.

Institutional Investors Weigh In On Aldeyra Therapeutics

A number of large investors have recently modified their holdings of ALDX. Global Retirement Partners LLC bought a new position in shares of Aldeyra Therapeutics in the 4th quarter valued at $52,000. CIBC Private Wealth Group LLC acquired a new stake in Aldeyra Therapeutics in the third quarter valued at about $55,000. BNP Paribas Financial Markets grew its position in Aldeyra Therapeutics by 36.9% in the third quarter. BNP Paribas Financial Markets now owns 10,610 shares of the biotechnology company's stock valued at $55,000 after acquiring an additional 2,859 shares during the last quarter. SG Americas Securities LLC acquired a new position in Aldeyra Therapeutics during the fourth quarter worth about $62,000. Finally, Federation des caisses Desjardins du Quebec raised its stake in Aldeyra Therapeutics by 25.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 12,187 shares of the biotechnology company's stock worth $63,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors and hedge funds own 59.71% of the company's stock.

Aldeyra Therapeutics Stock Up 1.9%

ALDX opened at $1.61 on Thursday. Aldeyra Therapeutics has a twelve month low of $1.07 and a twelve month high of $6.17. The company has a 50-day simple moving average of $1.84 and a 200 day simple moving average of $2.85. The stock has a market capitalization of $97.12 million, a price-to-earnings ratio of -3.50 and a beta of 1.16.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last released its earnings results on Thursday, May 7th. The biotechnology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.07. Sell-side analysts anticipate that Aldeyra Therapeutics will post -0.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Weiss Ratings downgraded shares of Aldeyra Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, May 20th. Wall Street Zen upgraded Aldeyra Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.50.

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.

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