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

Key Points

• Wall Street Zen downgraded Aldeyra Therapeutics to “Sell” from “Hold,” while Weiss Ratings also lowered its rating. Analysts overall remain split, resulting in a consensus “Hold” rating and an average price target of $5.50.
• Aldeyra shares opened at $1.56 and have fallen substantially from their 52-week high of $6.17, despite reportedly rising 8.3%. The company met quarterly earnings expectations with a loss of $0.09 per share.
• CEO Todd C. Brady purchased 250,000 shares for approximately $417,500, increasing his ownership by nearly 17%. Institutional investors and hedge funds own 59.71% of the company, while insiders hold 11.8%.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

Separately, Weiss Ratings cut Aldeyra Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Aldeyra Therapeutics currently has an average rating of "Hold" and an average price target of $5.50.

Aldeyra Therapeutics Stock Up 8.3%

Aldeyra Therapeutics stock opened at $1.56 on Friday. Aldeyra Therapeutics has a 52-week low of $1.07 and a 52-week high of $6.17. The firm has a market capitalization of $94.11 million, a price-to-earnings ratio of -4.00 and a beta of 1.21. The firm has a 50-day moving average price of $1.81 and a two-hundred day moving average price of $2.61.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, meeting the consensus estimate of ($0.09). Research analysts expect that Aldeyra Therapeutics will post -0.43 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Todd C. Brady purchased 250,000 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were bought at an average cost of $1.67 per share, for a total transaction of $417,500.00. Following the transaction, the chief executive officer owned 1,721,298 shares of the company's stock, valued at $2,874,567.66. This represents a 16.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 11.80% of the company's stock.

Institutional Investors Weigh In On Aldeyra Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. 683 Capital Management LLC grew its stake in Aldeyra Therapeutics by 86.6% during the 4th quarter. 683 Capital Management LLC now owns 1,530,000 shares of the biotechnology company's stock valued at $7,925,000 after acquiring an additional 710,000 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Aldeyra Therapeutics by 146.6% in the first quarter. Renaissance Technologies LLC now owns 863,187 shares of the biotechnology company's stock worth $1,459,000 after purchasing an additional 513,187 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Aldeyra Therapeutics in the second quarter worth approximately $1,007,000. Dimensional Fund Advisors LP boosted its holdings in shares of Aldeyra Therapeutics by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 624,170 shares of the biotechnology company's stock worth $1,055,000 after purchasing an additional 11,912 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new position in Aldeyra Therapeutics during the first quarter valued at approximately $33,000. 59.71% of the stock is currently owned by institutional investors and hedge funds.

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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