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

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)'s stock price passed 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 trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ALDX shares. HC Wainwright reaffirmed a "buy" rating and issued a $10.00 price target on shares of Aldeyra Therapeutics in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Aldeyra Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, 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 note on Monday, April 7th.

Aldeyra Therapeutics Trading Down 5.0%

The company has a debt-to-equity ratio of 0.24, a current ratio of 6.49 and a quick ratio of 6.49. The company's 50 day moving average is $3.54 and its two-hundred day moving average is $4.23. The firm has a market cap of $309.68 million, a P/E ratio of -5.33 and a beta of 0.90.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last released its 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, sell-side analysts predict that Aldeyra Therapeutics, Inc. will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in Aldeyra Therapeutics by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,119,555 shares of the biotechnology company's stock worth $5,588,000 after purchasing an additional 4,927 shares during the period. Public Employees Retirement System of Ohio bought a new position in Aldeyra Therapeutics during the second quarter worth about $25,000. Wells Fargo & Company MN lifted 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 purchasing an additional 7,348 shares during the period. Intech Investment Management LLC lifted 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 purchasing an additional 9,178 shares during the period. Finally, Barclays PLC lifted its stake in Aldeyra Therapeutics by 14.9% during the fourth quarter. Barclays PLC now owns 75,330 shares of the biotechnology company's stock worth $376,000 after purchasing an additional 9,769 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.

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