Aldeyra Therapeutics (NASDAQ:ALDX) Lowered to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Aldeyra Therapeutics (NASDAQ:ALDX) from “hold” to “sell,” adding to a mixed analyst backdrop that currently includes a consensus Hold rating and an average price target of $5.50.
• Shares were trading at $1.73, near the lower end of their 52-week range of $1.07 to $6.18, with the stock also below its 50-day and 200-day moving averages.
• The company recently reported a smaller-than-expected quarterly loss, posting EPS of -$0.06 versus estimates of -$0.13, while insiders and institutions have continued to hold meaningful stakes in the biotech firm.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

A number of other research analysts have also recently commented on the company. HC Wainwright reaffirmed a "neutral" rating and set a $2.00 price target (down from $10.00) on shares of Aldeyra Therapeutics in a research report on Wednesday, March 18th. BTIG Research reaffirmed a "buy" rating on shares of Aldeyra Therapeutics in a research report on Tuesday, March 17th. 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $5.50.

Aldeyra Therapeutics Price Performance

Shares of NASDAQ ALDX opened at $1.73 on Friday. Aldeyra Therapeutics has a one year low of $1.07 and a one year high of $6.18. The business's fifty day moving average price is $2.62 and its 200-day moving average price is $4.18. The stock has a market capitalization of $104.35 million, a PE ratio of -3.04 and a beta of 1.16.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.06) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.07. As a group, equities analysts expect that Aldeyra Therapeutics will post -0.44 EPS for the current fiscal year.

Insider Transactions at Aldeyra Therapeutics

In related news, Director Richard Douglas acquired 70,000 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average price of $1.40 per share, with a total value of $98,000.00. Following the acquisition, the director owned 195,000 shares of the company's stock, valued at approximately $273,000. This trade represents a 56.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 9.60% of the company's stock.

Institutional Trading of Aldeyra Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its holdings in Aldeyra Therapeutics by 10.9% during 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. Rhumbline Advisers raised its holdings 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Aldeyra Therapeutics by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 152,787 shares of the biotechnology company's stock valued at $791,000 after acquiring an additional 2,309 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in shares of Aldeyra Therapeutics by 25.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 12,187 shares of the biotechnology company's stock valued at $63,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Aldeyra Therapeutics by 0.8% in the 4th quarter. Deutsche Bank AG now owns 317,335 shares of the biotechnology company's stock valued at $1,644,000 after acquiring an additional 2,607 shares in the last quarter. Hedge funds and other institutional investors own 59.71% of the company's stock.

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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