Aldeyra Therapeutics (NASDAQ:ALDX) Raised to "Sell" at StockNews.com

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) was upgraded by analysts at StockNews.com to a "sell" rating in a research note issued to investors on Wednesday.

Other research analysts have also recently issued reports about the stock. BTIG Research cut their price target on shares of Aldeyra Therapeutics from $11.00 to $9.00 and set a "buy" rating on the stock in a report on Monday, April 7th. HC Wainwright reissued a "buy" rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a research report on Monday.

Aldeyra Therapeutics Trading Down 2.5%

Shares of Aldeyra Therapeutics stock opened at $2.36 on Wednesday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $141.35 million, a price-to-earnings ratio of -2.43 and a beta of 0.92. The firm's 50-day moving average price is $3.38 and its two-hundred day moving average price is $4.69. Aldeyra Therapeutics has a 12-month low of $1.14 and a 12-month high of $7.20.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.08. On average, analysts forecast that Aldeyra Therapeutics will post -0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the firm's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $1.42, for a total transaction of $4,828,000.00. Following the sale, the insider now directly owns 5,875,851 shares in the company, valued at $8,343,708.42. This trade represents a 36.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.60% of the company's stock.

Institutional Trading of Aldeyra Therapeutics

A number of large investors have recently made changes to their positions in the business. Hsbc Holdings PLC purchased a new stake in Aldeyra Therapeutics in the fourth quarter worth $52,000. Balyasny Asset Management L.P. bought a new position in shares of Aldeyra Therapeutics in the fourth quarter worth about $56,000. Capital Advisors Wealth Management LLC purchased a new position in Aldeyra Therapeutics in the 1st quarter worth about $62,000. Wealth Enhancement Advisory Services LLC purchased a new position in Aldeyra Therapeutics in the 1st quarter worth about $63,000. Finally, Catalyst Funds Management Pty Ltd lifted its holdings in Aldeyra Therapeutics by 2,083.3% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 13,100 shares of the biotechnology company's stock valued at $65,000 after buying an additional 12,500 shares in the last quarter. 59.71% of the stock is currently owned by institutional investors.

About Aldeyra Therapeutics

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.

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