Aldeyra Therapeutics (NASDAQ:ALDX) Announces Quarterly Earnings Results

Key Points

• Aldeyra Therapeutics reported a quarterly loss of $0.09 per share, missing analysts’ consensus estimate of a $0.08 loss by $0.01.
• Shares fell 0.6% to $1.59, with the stock trading well below its 50-day and 200-day moving averages. The company has a market capitalization of approximately $95.9 million.
• CEO Todd C. Brady purchased 250,000 shares for $417,500, increasing his stake by nearly 17%. Analysts maintain a consensus “Hold” rating, with a target price of $5.50.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) issued its quarterly earnings data on Thursday. The biotechnology company reported ($0.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.01), FiscalAI reports.

Aldeyra Therapeutics Stock Down 0.6%

ALDX traded down $0.01 during midday trading on Thursday, hitting $1.59. 573,829 shares of the company traded hands, compared to its average volume of 1,133,913. The company's 50-day moving average is $1.83 and its 200 day moving average is $2.73. The firm has a market capitalization of $95.91 million, a PE ratio of -3.46 and a beta of 1.21. Aldeyra Therapeutics has a 52 week low of $1.07 and a 52 week high of $6.17.

Insider Activity at Aldeyra Therapeutics

In related news, CEO Todd C. Brady bought 250,000 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average price of $1.67 per share, for a total transaction of $417,500.00. Following the completion of the acquisition, the chief executive officer owned 1,721,298 shares of the company's stock, valued at $2,874,567.66. This trade represents a 16.99% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 11.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Aldeyra Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of ALDX. Global Retirement Partners LLC bought a new stake in shares of Aldeyra Therapeutics in the fourth quarter worth $52,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Aldeyra Therapeutics during the 3rd quarter valued at about $55,000. BNP Paribas Financial Markets increased its position in shares of Aldeyra Therapeutics by 36.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,610 shares of the biotechnology company's stock valued at $55,000 after purchasing an additional 2,859 shares during the last quarter. Federation des caisses Desjardins du Quebec grew its position 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 valued at $63,000 after buying an additional 2,500 shares during the period. Finally, Caption Management LLC grew its position in Aldeyra Therapeutics by 110.6% during the second quarter. Caption Management LLC now owns 12,664 shares of the biotechnology company's stock valued at $49,000 after buying an additional 132,358 shares during the period. 59.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALDX. Weiss Ratings lowered Aldeyra Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, May 20th. Wall Street Zen upgraded shares of Aldeyra Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 6th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Aldeyra Therapeutics has a consensus rating of "Hold" and a consensus target price of $5.50.

Aldeyra Therapeutics Company Profile

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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