Aldeyra Therapeutics (NASDAQ:ALDX) Upgraded by Wall Street Zen to Hold Rating

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday.

Other research analysts have also recently issued research reports about the company. BTIG Research cut their price objective on Aldeyra Therapeutics from $11.00 to $9.00 and set a "buy" rating for the company in a research report on Monday, April 7th. HC Wainwright reiterated a "buy" rating and issued a $10.00 price target on shares of Aldeyra Therapeutics in a report on Monday, May 19th.

Aldeyra Therapeutics Stock Performance

NASDAQ ALDX traded up $0.26 during trading hours on Friday, hitting $3.35. 684,563 shares of the stock were exchanged, compared to its average volume of 825,028. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 0.24. The company has a market cap of $200.67 million, a price-to-earnings ratio of -3.45 and a beta of 0.69. Aldeyra Therapeutics has a 12-month low of $1.14 and a 12-month high of $7.20. The stock has a 50-day moving average of $2.47 and a 200 day moving average of $4.30.

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 (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.08. As a group, equities research analysts forecast that Aldeyra Therapeutics will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the firm's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $1.42, for a total value of $4,828,000.00. Following the completion of the transaction, the insider now owns 5,875,851 shares in the company, valued at $8,343,708.42. This trade represents a 36.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 8.50% of the company's stock.

Institutional Investors Weigh In On Aldeyra Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Boston Financial Mangement LLC acquired a new position in Aldeyra Therapeutics during the fourth quarter worth about $141,000. Raymond James Financial Inc. purchased a new position in shares of Aldeyra Therapeutics during the 4th quarter worth approximately $3,628,000. Catalyst Funds Management Pty Ltd raised its position in shares of Aldeyra Therapeutics by 2,083.3% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 13,100 shares of the biotechnology company's stock worth $65,000 after purchasing an additional 12,500 shares during the last quarter. Kennondale Capital Management LLC purchased a new stake in Aldeyra Therapeutics in the 4th quarter valued at approximately $755,000. Finally, Intech Investment Management LLC lifted its stake in Aldeyra Therapeutics by 62.7% in the 4th quarter. Intech Investment Management LLC now owns 23,806 shares of the biotechnology company's stock valued at $119,000 after buying an additional 9,178 shares in the last quarter. 59.71% of the stock is currently owned by hedge funds and other institutional investors.

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.