ADAR1 Capital Management LLC Has $1.22 Million Position in Aldeyra Therapeutics, Inc. $ALDX

Key Points

• ADAR1 Capital Management LLC significantly reduced its stake in Aldeyra Therapeutics, selling over 436,000 shares, which represents a 67.3% cut, leaving them with 211,579 shares valued at approximately $1.22 million.
• Insider Stephen Machatha sold 22,073 shares at an average price of $5.15, resulting in a 9.05% decrease in their ownership, now holding 221,799 shares worth around $1.14 million.
• Analysts have given Aldeyra Therapeutics a 'Moderate Buy' rating, with a consensus price target of $9.50, and the company reported a loss of $0.16 EPS in its latest quarterly earnings, beating expectations by $0.05.

ADAR1 Capital Management LLC cut its holdings in Aldeyra Therapeutics, Inc. (NASDAQ:ALDX - Free Report) by 67.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,579 shares of the biotechnology company's stock after selling 436,381 shares during the quarter. ADAR1 Capital Management LLC owned approximately 0.35% of Aldeyra Therapeutics worth $1,217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hsbc Holdings PLC acquired a new stake in Aldeyra Therapeutics during the 4th quarter valued at $52,000. Balyasny Asset Management L.P. purchased a new stake in Aldeyra Therapeutics during the 4th quarter worth about $56,000. Capital Advisors Wealth Management LLC acquired a new position in Aldeyra Therapeutics in the 1st quarter valued at about $62,000. Wealth Enhancement Advisory Services LLC acquired a new position in Aldeyra Therapeutics in the 1st quarter valued at about $63,000. Finally, ProShare Advisors LLC purchased a new position in Aldeyra Therapeutics in the 4th quarter valued at about $70,000. Hedge funds and other institutional investors own 59.71% of the company's stock.

Aldeyra Therapeutics Price Performance

ALDX traded up $0.03 during trading hours on Friday, reaching $5.56. 1,063,041 shares of the stock traded hands, compared to its average volume of 769,846. The firm's fifty day simple moving average is $5.19 and its two-hundred day simple moving average is $4.22. Aldeyra Therapeutics, Inc. has a fifty-two week low of $1.14 and a fifty-two week high of $7.20. The company has a market cap of $333.04 million, a price-to-earnings ratio of -6.54 and a beta of 0.80.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last released 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. On average, research analysts predict that Aldeyra Therapeutics, Inc. will post -0.92 earnings per share for the current year.

Insider Activity at Aldeyra Therapeutics

In other news, insider Stephen Machatha sold 22,073 shares of the company's stock in a transaction that occurred 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 directly owned 221,799 shares of the company's stock, valued at approximately $1,142,264.85. This represents a 9.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 9.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ALDX shares. Zacks Research upgraded shares of Aldeyra Therapeutics to a "hold" rating in a report 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. Finally, 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. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $9.50.

Aldeyra Therapeutics 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.