Kingdon Capital Management L.L.C. Buys Shares of 779,000 Aldeyra Therapeutics, Inc. $ALDX

Key Points

• Kingdon Capital Management L.L.C. invested approximately $4.48 million in Aldeyra Therapeutics, acquiring 779,000 shares during the first quarter.
• Aldeyra Therapeutics has been upgraded by multiple analysts, with a consensus target price of $9.50 and a rating of "Moderate Buy."
• The company's stock recently opened at $5.84 and has shown a 12-month price range between $1.14 and $7.20.

Kingdon Capital Management L.L.C. acquired a new stake in shares of Aldeyra Therapeutics, Inc. (NASDAQ:ALDX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 779,000 shares of the biotechnology company's stock, valued at approximately $4,479,000. Kingdon Capital Management L.L.C. owned approximately 1.30% of Aldeyra Therapeutics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hsbc Holdings PLC bought a new stake in shares of Aldeyra Therapeutics during the fourth quarter valued at about $52,000. Capital Advisors Wealth Management LLC bought a new stake in shares of Aldeyra Therapeutics during the first quarter valued at about $62,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Aldeyra Therapeutics during the first quarter valued at about $63,000. Balyasny Asset Management L.P. bought a new stake in shares of Aldeyra Therapeutics during the fourth quarter valued at about $56,000. Finally, ProShare Advisors LLC bought a new stake in shares of Aldeyra Therapeutics during the fourth quarter valued at about $70,000. 59.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Zacks Research upgraded shares of Aldeyra Therapeutics to a "hold" rating in a research report on Friday, August 8th. HC Wainwright reiterated a "buy" rating and issued a $10.00 price target on shares of Aldeyra Therapeutics in a research report on Monday, May 19th. Finally, Wall Street Zen upgraded shares of Aldeyra Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, June 21st. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $9.50.

Insiders Place Their Bets

In related news, insider Stephen Machatha sold 22,073 shares of Aldeyra Therapeutics stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $5.15, for a total value of $113,675.95. Following the transaction, the insider owned 221,799 shares of the company's stock, valued at approximately $1,142,264.85. This trade represents a 9.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 8.50% of the company's stock.

Aldeyra Therapeutics Stock Performance

ALDX traded up $0.08 during trading on Wednesday, reaching $5.83. The company had a trading volume of 514,291 shares, compared to its average volume of 1,165,938. The firm's 50-day simple moving average is $5.07 and its 200 day simple moving average is $4.24. The company has a market cap of $349.22 million, a price-to-earnings ratio of -6.86 and a beta of 0.80. Aldeyra Therapeutics, Inc. has a 12-month low of $1.14 and a 12-month high of $7.20.

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, topping analysts' consensus estimates of ($0.21) by $0.05. On average, sell-side analysts expect that Aldeyra Therapeutics, Inc. will post -0.92 EPS for the current year.

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.