Aldeyra Therapeutics (NASDAQ:ALDX) Releases Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• Aldeyra Therapeutics reported a quarterly loss of ($0.16) earnings per share, surpassing analyst expectations of ($0.24) by $0.08.
• The company's stock price is currently $5.26, with a market capitalization of $315.07 million and a PE ratio of -5.42.
• HC Wainwright has maintained a "buy" rating on Aldeyra Therapeutics with a price target of $10.00 per share.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) posted its earnings results on Thursday, August 7th. The biotechnology company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.05, Zacks reports.

Aldeyra Therapeutics Trading Down 1.3%

Shares of ALDX traded down $0.07 during midday trading on Thursday, reaching $5.30. The stock had a trading volume of 574,585 shares, compared to its average volume of 1,138,003. The company's 50-day moving average is $4.35 and its 200 day moving average is $4.25. Aldeyra Therapeutics has a 12-month low of $1.14 and a 12-month high of $7.20. The company has a market capitalization of $317.47 million, a price-to-earnings ratio of -6.24 and a beta of 0.76.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Wall Street Zen upgraded Aldeyra Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. HC Wainwright restated a "buy" rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a research report on Monday, May 19th.

Insider Activity

In other news, insider Stephen Machatha sold 22,073 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $5.15, for a total value of $113,675.95. Following the completion of the transaction, the insider directly owned 221,799 shares in the company, valued at approximately $1,142,264.85. This represents a 9.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.60% of the company's stock.

Hedge Funds Weigh In On Aldeyra Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ALDX. Caption Management LLC boosted its holdings in shares of Aldeyra Therapeutics by 110.6% in 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 in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Aldeyra Therapeutics by 10.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,074 shares of the biotechnology company's stock worth $77,000 after purchasing an additional 1,972 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of Aldeyra Therapeutics in the 2nd quarter worth about $140,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Aldeyra Therapeutics in the 1st quarter worth about $218,000. Finally, Rhumbline Advisers lifted its stake in shares of Aldeyra Therapeutics by 2.7% in the 2nd quarter. Rhumbline Advisers now owns 77,494 shares of the biotechnology company's stock valued at $297,000 after acquiring an additional 2,018 shares during the last quarter. 59.71% of the stock is currently owned by hedge funds and other institutional investors.

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.