Aldeyra Therapeutics (NASDAQ:ALDX) Stock Price Crosses Above 50-Day Moving Average - Here's Why

Key Points

• Aldeyra Therapeutics shares rose above their 50-day moving average during Thursday trading, reaching as high as $1.85 before last trading at $1.72. The move came on heavy volume of 2.58 million shares.
• Analyst sentiment remains mixed but cautious, with recent rating changes including a Weiss Ratings downgrade and a Wall Street Zen upgrade to hold. The stock currently carries a consensus Hold rating and a $5.50 price target.
• CEO Todd C. Brady bought 250,000 shares in early June at $1.67 each, increasing his holdings by 16.99%. The company also reported a smaller-than-expected quarterly loss, beating EPS estimates by $0.07.

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX - Get Free Report) shares passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $1.85 and traded as high as $1.85. Aldeyra Therapeutics shares last traded at $1.72, with a volume of 2,584,594 shares.

Analyst Ratings Changes

ALDX has been the subject of several recent research reports. Weiss Ratings downgraded shares of Aldeyra Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, May 20th. Wall Street Zen raised Aldeyra Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $5.50.

Aldeyra Therapeutics Price Performance

The business has a 50 day moving average of $1.85 and a 200 day moving average of $3.04. The company has a market cap of $103.75 million, a PE ratio of -3.74 and a beta of 1.16.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.07. Sell-side analysts forecast that Aldeyra Therapeutics, Inc. will post -0.43 EPS for the current fiscal year.

Insider Buying and Selling at Aldeyra Therapeutics

In related news, CEO Todd C. Brady purchased 250,000 shares of Aldeyra Therapeutics stock in a transaction that occurred on Wednesday, June 3rd. The shares were bought at an average price of $1.67 per share, for a total transaction of $417,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,721,298 shares of the company's stock, valued at $2,874,567.66. This represents a 16.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 11.80% of the company's stock.

Institutional Trading of Aldeyra Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ALDX. Abel Hall LLC bought a new stake in Aldeyra Therapeutics during the 1st quarter valued at approximately $26,000. Krilogy Financial LLC purchased a new position in shares of Aldeyra Therapeutics during the 1st quarter worth approximately $26,000. Chicago Partners Investment Group LLC bought a new position in shares of Aldeyra Therapeutics in the 1st quarter worth approximately $33,000. Caption Management LLC raised its position in shares of Aldeyra Therapeutics by 110.6% in the 2nd quarter. Caption Management LLC now owns 12,664 shares of the biotechnology company's stock worth $49,000 after acquiring an additional 132,358 shares in the last quarter. Finally, Inspirion Wealth Advisors LLC purchased a new position in shares of Aldeyra Therapeutics in the 4th quarter valued at approximately $52,000. 59.71% of the stock is currently owned by hedge funds and other institutional investors.

About Aldeyra Therapeutics

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.

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