683 Capital Management LLC Acquires 186,000 Shares of Aldeyra Therapeutics, Inc. $ALDX

Key Points

• 683 Capital Management LLC increased its stake in Aldeyra Therapeutics, Inc. by 64.1% during the first quarter, owning 476,000 shares valued at approximately $2.74 million.
• Aldeyra received upgrades in analyst ratings, with Wall Street Zen and Zacks Research both issuing a "hold" rating, and HC Wainwright maintaining a "buy" rating with a price target of $10.00.
• Aldeyra Therapeutics reported a loss of $0.16 earnings per share for the last quarter, exceeding analyst expectations of a $0.21 loss.

683 Capital Management LLC raised its stake in shares of Aldeyra Therapeutics, Inc. (NASDAQ:ALDX - Free Report) by 64.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 476,000 shares of the biotechnology company's stock after acquiring an additional 186,000 shares during the quarter. 683 Capital Management LLC owned approximately 0.79% of Aldeyra Therapeutics worth $2,737,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ALDX. Hsbc Holdings PLC acquired a new position in Aldeyra Therapeutics during the fourth quarter worth $52,000. Capital Advisors Wealth Management LLC bought a new position in shares of Aldeyra Therapeutics in the 1st quarter valued at approximately $62,000. Wealth Enhancement Advisory Services LLC bought a new stake in Aldeyra Therapeutics during the first quarter worth approximately $63,000. Balyasny Asset Management L.P. acquired a new position in Aldeyra Therapeutics during the fourth quarter valued at approximately $56,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Aldeyra Therapeutics in the fourth quarter worth $70,000. 59.71% of the stock is currently owned by institutional investors.

Insider Transactions at Aldeyra Therapeutics

In other Aldeyra Therapeutics news, insider Stephen Machatha sold 22,073 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $5.15, for a total transaction of $113,675.95. Following the sale, the insider owned 221,799 shares of the company's stock, valued at approximately $1,142,264.85. This represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ALDX has been the subject of a number of research analyst reports. Wall Street Zen upgraded 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. Finally, HC Wainwright reiterated a "buy" rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a research report on Monday, May 19th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Aldeyra Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $9.50.

Aldeyra Therapeutics Stock Performance

NASDAQ ALDX traded up $0.03 during trading on Friday, hitting $5.56. The stock had a trading volume of 1,063,041 shares, compared to its average volume of 769,846. The company's 50-day moving average price is $5.19 and its two-hundred day moving average price is $4.22. Aldeyra Therapeutics, Inc. has a 12 month low of $1.14 and a 12 month high of $7.20. The company has a market capitalization of $333.04 million, a PE ratio of -6.54 and a beta of 0.80.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last released 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. As a group, equities analysts anticipate that Aldeyra Therapeutics, Inc. will post -0.92 earnings per share for the current fiscal 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.