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

Key Points

• Aldeyra Therapeutics' stock (NASDAQ:ALDX) has recently fallen below its 50-day moving average of $5.35, trading as low as $4.96 before closing at $5.09 with a trading volume of 1,599,424 shares.
• Research analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price of $9.50, following upgrades from Zacks Research and Wall Street Zen.
• The company reported a quarterly earnings per share of ($0.16), which was better than the consensus estimate of ($0.21), and it has a market cap of $304.89 million.

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX - Get Free Report) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $5.35 and traded as low as $4.96. Aldeyra Therapeutics shares last traded at $5.09, with a volume of 1,599,424 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ALDX shares. Zacks Research raised shares of Aldeyra Therapeutics to a "hold" rating in a research note on Friday, August 8th. Wall Street Zen raised shares of Aldeyra Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 21st. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $9.50.

Aldeyra Therapeutics Stock Down 1.6%

The company has a market cap of $295.31 million, a PE ratio of -5.80 and a beta of 0.80. The stock's 50 day simple moving average is $5.38 and its two-hundred day simple moving average is $4.17.

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

Insider Activity

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

Institutional Investors Weigh In On Aldeyra Therapeutics

Several large investors have recently made changes to their positions in ALDX. Public Employees Retirement System of Ohio acquired a new stake in Aldeyra Therapeutics during the 2nd quarter valued at $25,000. Inspirion Wealth Advisors LLC acquired a new stake in Aldeyra Therapeutics during the 2nd quarter valued at $38,000. King Wealth Management Group acquired a new stake in Aldeyra Therapeutics during the 2nd quarter valued at $46,000. Caption Management LLC grew its holdings in Aldeyra Therapeutics by 110.6% during 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, Corton Capital Inc. acquired a new position in Aldeyra Therapeutics during the 2nd quarter worth $57,000. Institutional investors and hedge funds 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.