Aldeyra Therapeutics (NASDAQ:ALDX) Stock Price Passes Below Fifty Day Moving Average - What's Next?

Key Points

• Aldeyra Therapeutics' stock price fell below its 50-day moving average of $5.36, trading as low as $5.17 during Wednesday’s session.
• Analysts have mixed ratings for the stock, with two analysts giving it a Buy rating and one a Hold rating, resulting in an average target price of $9.50.
• Insider Stephen Machatha sold 22,073 shares of Aldeyra Therapeutics, decreasing his ownership by 9.05% and retaining approximately $1.14 million in stock value.

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX - Get Free Report)'s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $5.36 and traded as low as $5.17. Aldeyra Therapeutics shares last traded at $5.24, with a volume of 411,371 shares changing hands.

Analyst Ratings Changes

Several brokerages have issued reports on ALDX. Wall Street Zen raised Aldeyra Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, June 21st. Zacks Research raised Aldeyra Therapeutics to a "hold" rating in a report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Aldeyra Therapeutics has an average rating of "Moderate Buy" and an average price target of $9.50.

Aldeyra Therapeutics Trading Up 0.4%

The stock has a market cap of $313.88 million, a P/E ratio of -6.16 and a beta of 0.83. The firm has a 50-day simple moving average of $5.36 and a two-hundred day simple moving average of $4.08.

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

Insider Activity at Aldeyra Therapeutics

In related news, insider Stephen Machatha sold 22,073 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $5.15, for a total value of $113,675.95. Following the transaction, the insider owned 221,799 shares in the company, valued at approximately $1,142,264.85. This trade represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC increased its position in shares of Aldeyra Therapeutics by 275.4% in the second quarter. AQR Capital Management LLC now owns 1,473,812 shares of the biotechnology company's stock worth $5,645,000 after purchasing an additional 1,081,257 shares during the period. Geode Capital Management LLC increased its position in shares of Aldeyra Therapeutics by 0.8% in the second quarter. Geode Capital Management LLC now owns 1,146,597 shares of the biotechnology company's stock worth $4,392,000 after purchasing an additional 8,769 shares during the period. 683 Capital Management LLC boosted its stake in Aldeyra Therapeutics by 126.9% in the second quarter. 683 Capital Management LLC now owns 1,080,000 shares of the biotechnology company's stock valued at $4,136,000 after buying an additional 604,000 shares in the last quarter. Kingdon Capital Management L.L.C. acquired a new stake in Aldeyra Therapeutics in the first quarter valued at about $4,479,000. Finally, Invesco Ltd. boosted its stake in Aldeyra Therapeutics by 1,575.7% in the first quarter. Invesco Ltd. now owns 501,137 shares of the biotechnology company's stock valued at $2,882,000 after buying an additional 471,231 shares in the last quarter. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.