Aldeyra Therapeutics (NASDAQ:ALDX) Stock Price Passes Above Fifty Day Moving Average - Here's Why

Key Points

• Aldeyra Therapeutics' stock (NASDAQ:ALDX) recently crossed above its 50-day moving average of $4.18, reaching a high of $5.37 before last trading at $5.25 with a volume of 1,033,316 shares.
• Analysts have shown a positive outlook with HC Wainwright reissuing a "buy" rating and setting a $10.00 price objective, while Wall Street Zen upgraded the stock to a "hold" rating.
• The company reported earnings of ($0.16) per share, surpassing analysts' expectations of ($0.21), and analysts predict an average earnings per share of -0.92 for the current fiscal year.

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX - Get Free Report) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $4.18 and traded as high as $5.37. Aldeyra Therapeutics shares last traded at $5.25, with a volume of 1,033,316 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wall Street Zen raised Aldeyra Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Zacks Research raised Aldeyra Therapeutics to a "hold" rating in a report on Friday, August 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $10.00 price objective on shares of Aldeyra Therapeutics in a report on Monday, May 19th.

Aldeyra Therapeutics Stock Performance

The firm has a fifty day simple moving average of $4.41 and a 200-day simple moving average of $4.25. The firm has a market cap of $322.86 million, a price-to-earnings ratio of -6.34 and a beta of 0.76.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.05. Analysts expect that Aldeyra Therapeutics, Inc. will post -0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Aldeyra Therapeutics news, insider Stephen Machatha sold 22,073 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $5.15, for a total transaction of $113,675.95. Following the transaction, the insider owned 221,799 shares in the company, valued at $1,142,264.85. This trade represents a 9.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of Aldeyra Therapeutics in the second quarter worth $25,000. Inspirion Wealth Advisors LLC bought a new position in shares of Aldeyra Therapeutics in the second quarter worth $38,000. King Wealth Management Group bought a new position in shares of Aldeyra Therapeutics in the second quarter worth $46,000. Caption Management LLC increased its position in shares of Aldeyra Therapeutics by 110.6% in the second quarter. Caption Management LLC now owns 12,664 shares of the biotechnology company's stock worth $49,000 after purchasing an additional 132,358 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of Aldeyra Therapeutics in the fourth quarter worth $52,000. Institutional investors own 59.71% of the company's stock.

Aldeyra Therapeutics Company Profile

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.