Aldeyra Therapeutics (NASDAQ:ALDX) Stock Passes Above 50-Day Moving Average - Should You Sell?

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX - Get Free Report) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.79 and traded as high as $4.43. Aldeyra Therapeutics shares last traded at $4.35, with a volume of 906,880 shares.

Analysts Set New Price Targets

A number of brokerages have recently commented on ALDX. BTIG Research reduced their target price on shares of Aldeyra Therapeutics from $11.00 to $9.00 and set a "buy" rating for the company in a research report on Monday, April 7th. HC Wainwright reaffirmed a "buy" rating and set a $10.00 price objective on shares of Aldeyra Therapeutics in a research note on Monday, May 19th. Finally, Wall Street Zen raised shares of Aldeyra Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st.

Aldeyra Therapeutics Price Performance

The company has a market cap of $260.55 million, a price-to-earnings ratio of -4.48 and a beta of 0.90. The stock has a 50 day simple moving average of $2.79 and a two-hundred day simple moving average of $4.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 6.49 and a quick ratio of 6.49.

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 for the quarter, beating the consensus estimate of ($0.25) by $0.08. On average, equities research analysts predict that Aldeyra Therapeutics, Inc. will post -0.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Aldeyra Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ALDX. Geode Capital Management LLC increased its holdings in shares of Aldeyra Therapeutics by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,119,555 shares of the biotechnology company's stock worth $5,588,000 after buying an additional 4,927 shares during the last quarter. Wells Fargo & Company MN increased its stake in Aldeyra Therapeutics by 1.9% during the fourth quarter. Wells Fargo & Company MN now owns 393,654 shares of the biotechnology company's stock worth $1,964,000 after acquiring an additional 7,348 shares during the last quarter. Intech Investment Management LLC increased its stake in Aldeyra Therapeutics by 62.7% during the fourth quarter. Intech Investment Management LLC now owns 23,806 shares of the biotechnology company's stock worth $119,000 after acquiring an additional 9,178 shares during the last quarter. Barclays PLC raised its position in Aldeyra Therapeutics by 14.9% in the fourth quarter. Barclays PLC now owns 75,330 shares of the biotechnology company's stock valued at $376,000 after purchasing an additional 9,769 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Aldeyra Therapeutics in the 4th quarter valued at $52,000. 59.71% of the stock is currently owned by institutional investors and hedge funds.

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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