Aldeyra Therapeutics (NASDAQ:ALDX) Shares Cross Below 200-Day Moving Average - Here's What Happened

Key Points

• Shares of Aldeyra Therapeutics fell below its 200-day moving average (200‑day MA $5.17), trading as low as $5.15 and last at $5.20 on volume of 764,825 shares.
• Analyst sentiment is mixed: BTIG reissued a Buy rating with a $9 price target, while the MarketBeat consensus is a Hold with a $9.50 target (two Buys, one Hold, one Sell).
• Institutional investors own about 59.7% of the company—Vanguard, 683 Capital and AQR recently increased stakes—and the company has a market cap of $312.9M after reporting quarterly EPS of -$0.11, which topped estimates.

Shares of Aldeyra Therapeutics, Inc. (NASDAQ:ALDX - Get Free Report) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $5.17 and traded as low as $5.15. Aldeyra Therapeutics shares last traded at $5.20, with a volume of 764,825 shares traded.

Wall Street Analyst Weigh In

Separately, BTIG Research reissued a "buy" rating and issued a $9.00 price target on shares of Aldeyra Therapeutics in a report on Monday, November 10th. Two analysts have 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 data from MarketBeat, Aldeyra Therapeutics currently has a consensus rating of "Hold" and a consensus target price of $9.50.

Aldeyra Therapeutics Stock Up 1.8%

The stock has a 50-day moving average of $5.03 and a 200 day moving average of $5.17. The stock has a market cap of $312.94 million, a PE ratio of -9.12 and a beta of 0.97.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last posted its quarterly earnings results on Friday, February 27th. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.03. On average, equities analysts anticipate that Aldeyra Therapeutics, Inc. will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALDX. Vanguard Group Inc. increased its stake in shares of Aldeyra Therapeutics by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,591,869 shares of the biotechnology company's stock valued at $18,750,000 after purchasing an additional 90,276 shares in the last quarter. 683 Capital Management LLC boosted its position in Aldeyra Therapeutics by 86.6% during the fourth quarter. 683 Capital Management LLC now owns 1,530,000 shares of the biotechnology company's stock worth $7,925,000 after purchasing an additional 710,000 shares in the last quarter. AQR Capital Management LLC grew its holdings in Aldeyra Therapeutics by 275.4% in the second quarter. AQR Capital Management LLC now owns 1,473,812 shares of the biotechnology company's stock valued at $5,645,000 after purchasing an additional 1,081,257 shares during the period. Kennedy Capital Management LLC grew its holdings in Aldeyra Therapeutics by 12.9% in the fourth quarter. Kennedy Capital Management LLC now owns 1,255,838 shares of the biotechnology company's stock valued at $6,505,000 after purchasing an additional 143,625 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Aldeyra Therapeutics by 0.8% in the second quarter. Geode Capital Management LLC now owns 1,146,597 shares of the biotechnology company's stock valued at $4,392,000 after buying an additional 8,769 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.