Goldman Sachs Group Inc. Sells 115,969 Shares of Aldeyra Therapeutics, Inc. $ALDX

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Aldeyra Therapeutics by 48.3%, selling 115,969 shares, and now owns about 0.21% of the company, valued at approximately $715,000.
• Several hedge funds have increased their positions in Aldeyra Therapeutics, with Acadian Asset Management lifting its stake by 7,402.7% and AQR Capital Management increasing theirs by 456.3%.
• Aldeyra Therapeutics reported a quarterly loss of ($0.16) per share, which exceeded analysts' expectations, and the stock has a current price target averaging $9.50.

Goldman Sachs Group Inc. reduced its stake in Aldeyra Therapeutics, Inc. (NASDAQ:ALDX - Free Report) by 48.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,365 shares of the biotechnology company's stock after selling 115,969 shares during the quarter. Goldman Sachs Group Inc. owned about 0.21% of Aldeyra Therapeutics worth $715,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Strs Ohio bought a new stake in shares of Aldeyra Therapeutics in the 1st quarter worth approximately $440,000. Acadian Asset Management LLC lifted its position in Aldeyra Therapeutics by 7,402.7% in the 1st quarter. Acadian Asset Management LLC now owns 95,960 shares of the biotechnology company's stock valued at $551,000 after acquiring an additional 94,681 shares in the last quarter. Jane Street Group LLC bought a new position in Aldeyra Therapeutics in the 1st quarter valued at approximately $1,024,000. Jacobs Levy Equity Management Inc. bought a new position in Aldeyra Therapeutics in the 1st quarter valued at approximately $218,000. Finally, AQR Capital Management LLC lifted its position in Aldeyra Therapeutics by 456.3% in the 1st quarter. AQR Capital Management LLC now owns 392,555 shares of the biotechnology company's stock valued at $2,257,000 after acquiring an additional 321,992 shares in the last quarter. 59.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Aldeyra Therapeutics news, insider Stephen Machatha sold 22,073 shares of Aldeyra Therapeutics stock in a transaction that occurred 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 transaction, the insider owned 221,799 shares of the company's stock, valued at $1,142,264.85. The trade was 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 available through the SEC website. 8.50% of the stock is owned by corporate insiders.

Aldeyra Therapeutics Price Performance

Shares of NASDAQ:ALDX opened at $5.11 on Wednesday. Aldeyra Therapeutics, Inc. has a 1-year low of $1.14 and a 1-year high of $7.20. The company has a market capitalization of $306.07 million, a P/E ratio of -6.01 and a beta of 0.80. The firm's 50 day simple moving average is $5.39 and its two-hundred day simple moving average is $4.14.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.05. On average, sell-side analysts anticipate that Aldeyra Therapeutics, Inc. will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.

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