Millennium Management LLC Makes New Investment in Aldeyra Therapeutics, Inc (NASDAQ:ALDX)

Millennium Management LLC acquired a new stake in shares of Aldeyra Therapeutics, Inc (NASDAQ:ALDX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 161,926 shares of the biotechnology company's stock, valued at approximately $808,000. Millennium Management LLC owned about 0.27% of Aldeyra Therapeutics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALDX. Geode Capital Management LLC grew its position in Aldeyra Therapeutics by 0.4% in the 4th 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. Dimensional Fund Advisors LP boosted its stake in shares of Aldeyra Therapeutics by 21.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 735,763 shares of the biotechnology company's stock worth $3,672,000 after buying an additional 131,722 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Aldeyra Therapeutics in the fourth quarter worth $3,628,000. ADAR1 Capital Management LLC grew its holdings in shares of Aldeyra Therapeutics by 114.4% in the fourth quarter. ADAR1 Capital Management LLC now owns 647,960 shares of the biotechnology company's stock worth $3,233,000 after acquiring an additional 345,748 shares during the period. Finally, Northern Trust Corp increased its position in Aldeyra Therapeutics by 4.3% during the fourth quarter. Northern Trust Corp now owns 405,517 shares of the biotechnology company's stock valued at $2,024,000 after acquiring an additional 16,894 shares during the last quarter. Institutional investors own 59.71% of the company's stock.

Insiders Place Their Bets

In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the 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 sale, the insider now owns 5,875,851 shares in the company, valued at approximately $8,343,708.42. This represents a 36.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ALDX shares. Wall Street Zen raised Aldeyra Therapeutics to a "sell" rating in a research report on Wednesday, May 21st. BTIG Research dropped their price objective on shares of Aldeyra Therapeutics from $11.00 to $9.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, HC Wainwright restated a "buy" rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a research report on Monday, May 19th.

Aldeyra Therapeutics Stock Performance

NASDAQ ALDX traded up $0.01 on Tuesday, hitting $2.68. 730,135 shares of the company traded hands, compared to its average volume of 808,857. The business's 50 day moving average price is $2.28 and its 200-day moving average price is $4.42. Aldeyra Therapeutics, Inc has a 52-week low of $1.14 and a 52-week high of $7.20. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $160.52 million, a price-to-earnings ratio of -2.76 and a beta of 0.68.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The biotechnology company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.08. Equities analysts expect that Aldeyra Therapeutics, Inc will post -0.92 earnings per share for the current year.

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.