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

Key Points

• Aldeyra Therapeutics' stock (NASDAQ:ALDX) moved above its fifty-day moving average of $3.54, closing at $5.17 with a trading volume of 1,753,723 shares.
• Analysts have set mixed price targets for Aldeyra, with HC Wainwright maintaining a "buy" rating and a price target of $10.00, while BTIG Research lowered their target from $11.00 to $9.00.
• The company reported earnings of ($0.17) per share, exceeding expectations by $0.08, as analysts project a loss of -0.92 earnings per share for the current year.

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX - Get Free Report) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $3.54 and traded as high as $5.47. Aldeyra Therapeutics shares last traded at $5.17, with a volume of 1,753,723 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALDX. BTIG Research cut their price target on Aldeyra Therapeutics from $11.00 to $9.00 and set a "buy" rating for the company in a report on Monday, April 7th. HC Wainwright reaffirmed a "buy" rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a report 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 Trading Down 3.5%

The company has a current ratio of 6.49, a quick ratio of 6.49 and a debt-to-equity ratio of 0.24. The firm's 50-day moving average price is $3.60 and its 200 day moving average price is $4.22. The company has a market cap of $307.41 million, a price-to-earnings ratio of -5.27 and a beta of 0.90.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last posted 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. As a group, equities analysts expect that Aldeyra Therapeutics, Inc. will post -0.92 EPS for the current year.

Institutional Investors Weigh In On Aldeyra Therapeutics

Several hedge funds have recently added to or reduced their stakes in ALDX. Kingdon Capital Management L.L.C. bought a new stake in Aldeyra Therapeutics during the first quarter worth about $4,479,000. Raymond James Financial Inc. bought a new stake in shares of Aldeyra Therapeutics during the fourth quarter valued at approximately $3,628,000. Invesco Ltd. grew its stake in shares of Aldeyra Therapeutics by 1,575.7% in the 1st quarter. Invesco Ltd. now owns 501,137 shares of the biotechnology company's stock worth $2,882,000 after buying an additional 471,231 shares in the last quarter. ADAR1 Capital Management LLC grew its position in Aldeyra Therapeutics by 114.4% in the 4th quarter. ADAR1 Capital Management LLC now owns 647,960 shares of the biotechnology company's stock valued at $3,233,000 after acquiring an additional 345,748 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Aldeyra Therapeutics by 456.3% in the 1st quarter. AQR Capital Management LLC now owns 392,555 shares of the biotechnology company's stock worth $2,257,000 after buying an additional 321,992 shares during the period. 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.