Wall Street Zen Upgrades Aldeyra Therapeutics (NASDAQ:ALDX) to "Sell"

Wall Street Zen upgraded shares of Aldeyra Therapeutics (NASDAQ:ALDX - Free Report) to a sell rating in a report released on Wednesday.

Several other equities analysts have also recently weighed in on ALDX. HC Wainwright reissued a "buy" rating and set a $10.00 price objective on shares of Aldeyra Therapeutics in a research report on Monday, May 19th. BTIG Research dropped their price target on Aldeyra Therapeutics from $11.00 to $9.00 and set a "buy" rating on the stock in a research report on Monday, April 7th.

Aldeyra Therapeutics Stock Performance

Shares of Aldeyra Therapeutics stock traded down $0.03 on Wednesday, reaching $2.22. The stock had a trading volume of 704,068 shares, compared to its average volume of 790,462. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.80 and a current ratio of 6.80. The business's 50-day moving average price is $3.03 and its two-hundred day moving average price is $4.60. The stock has a market cap of $132.97 million, a P/E ratio of -2.29 and a beta of 0.92. Aldeyra Therapeutics has a fifty-two week low of $1.14 and a fifty-two week high of $7.20.

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

Insider Buying and Selling at Aldeyra Therapeutics

In related news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $1.42, for a total transaction of $4,828,000.00. Following the transaction, the insider now directly owns 5,875,851 shares in the company, valued at $8,343,708.42. The trade was a 36.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 9.60% of the company's stock.

Institutional Trading of Aldeyra Therapeutics

A number of hedge funds have recently modified their holdings of ALDX. Hsbc Holdings PLC acquired a new position in shares of Aldeyra Therapeutics in the fourth quarter valued at $52,000. Capital Advisors Wealth Management LLC acquired a new stake in Aldeyra Therapeutics during the first quarter worth $62,000. Wealth Enhancement Advisory Services LLC bought a new stake in Aldeyra Therapeutics in the 1st quarter valued at $63,000. Balyasny Asset Management L.P. acquired a new position in shares of Aldeyra Therapeutics in the 4th quarter valued at $56,000. Finally, Catalyst Funds Management Pty Ltd raised its stake in shares of Aldeyra Therapeutics by 2,083.3% in 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. Institutional investors own 59.71% of the company's stock.

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.