Aldeyra Therapeutics (NASDAQ:ALDX) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Key Points

• Aldeyra reported ($0.06) EPS for the quarter versus a consensus ($0.13), beating estimates by $0.07; shares traded at $1.73, the company has a market cap of ~$104M and a 52‑week range of $1.07–$6.18.
• Director Richard Douglas bought 70,000 shares at $1.40, boosting his holdings to 195,000 shares, and corporate insiders collectively own 9.6% of the company.
• Institutional ownership is about 59.7% with large stake increases from AQR and Acadian, while analysts' consensus is a "Hold" rating and an average price target of $5.50 (individual ratings vary).

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) released its quarterly earnings data on Thursday. The biotechnology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.07, FiscalAI reports.

Aldeyra Therapeutics Stock Performance

Shares of ALDX stock traded down $0.01 during mid-day trading on Thursday, reaching $1.73. 641,492 shares of the company were exchanged, compared to its average volume of 1,352,462. Aldeyra Therapeutics has a fifty-two week low of $1.07 and a fifty-two week high of $6.18. The company has a market capitalization of $104.35 million, a P/E ratio of -3.04 and a beta of 1.16. The business's 50 day simple moving average is $2.62 and its 200 day simple moving average is $4.18.

Insider Activity

In other news, Director Richard Douglas purchased 70,000 shares of the company's stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average cost of $1.40 per share, with a total value of $98,000.00. Following the transaction, the director owned 195,000 shares in the company, valued at approximately $273,000. The trade was a 56.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.60% of the company's stock.

Institutional Investors Weigh In On Aldeyra Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in ALDX. AQR Capital Management LLC raised its position in shares of Aldeyra Therapeutics by 456.3% during the 1st quarter. AQR Capital Management LLC now owns 392,555 shares of the biotechnology company's stock valued at $2,257,000 after acquiring an additional 321,992 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Aldeyra Therapeutics during the 1st quarter valued at approximately $218,000. Jane Street Group LLC bought a new position in Aldeyra Therapeutics during the 1st quarter worth $1,024,000. Acadian Asset Management LLC grew its stake in Aldeyra Therapeutics by 7,402.7% during the 1st quarter. Acadian Asset Management LLC now owns 95,960 shares of the biotechnology company's stock worth $551,000 after buying an additional 94,681 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Aldeyra Therapeutics by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,146,597 shares of the biotechnology company's stock worth $4,392,000 after buying an additional 8,769 shares during the last quarter. 59.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Wall Street Zen upgraded Aldeyra Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, April 18th. BTIG Research reiterated a "buy" rating on shares of Aldeyra Therapeutics in a report on Tuesday, March 17th. Finally, HC Wainwright reiterated a "neutral" rating and set a $2.00 target price (down from $10.00) on shares of Aldeyra Therapeutics in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $5.50.

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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