Aldeyra Therapeutics (NASDAQ:ALDX) Share Price Passes Below 200 Day Moving Average - Time to Sell?

Key Points

• Aldeyra Therapeutics shares fell below their 200-day moving average, trading as low as $1.52 and last changing hands at $1.56, compared with a 200-day average of $2.37.
• Analyst sentiment is mixed but cautious: the stock has received Buy, Hold and Sell ratings, with an overall “Hold” consensus and an average price target of $5.50. Wall Street Zen recently downgraded the shares to “Sell,” while Weiss Ratings maintained a sell rating.
• The company met quarterly EPS expectations at a loss of $0.09 per share, while CEO Todd C. Brady bought 250,000 shares at $1.67 each. Institutional investors own 59.71% of the stock, and insiders hold 11.80%.

Shares of Aldeyra Therapeutics, Inc. (NASDAQ:ALDX - Get Free Report) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.37 and traded as low as $1.52. Aldeyra Therapeutics shares last traded at $1.56, with a volume of 478,445 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Aldeyra Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Weiss Ratings restated a "sell (e+)" rating on shares of Aldeyra Therapeutics in a report on Monday, August 17th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Aldeyra Therapeutics has an average rating of "Hold" and an average price target of $5.50.

Aldeyra Therapeutics Stock Up 0.6%

The business has a 50-day simple moving average of $1.77 and a 200-day simple moving average of $2.37. The stock has a market cap of $94.11 million, a P/E ratio of -4.00 and a beta of 1.21.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) EPS for the quarter, meeting analysts' consensus estimates of ($0.09). On average, analysts predict that Aldeyra Therapeutics, Inc. will post -0.39 earnings per share for the current fiscal year.

Insider Transactions at Aldeyra Therapeutics

In other news, CEO Todd C. Brady bought 250,000 shares of the company's stock in a transaction that occurred on Wednesday, June 3rd. The shares were purchased at an average price of $1.67 per share, for a total transaction of $417,500.00. Following the acquisition, the chief executive officer directly owned 1,721,298 shares of the company's stock, valued at $2,874,567.66. The trade was a 16.99% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 11.80% of the company's stock.

Institutional Investors Weigh In On Aldeyra Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Abel Hall LLC bought a new position in shares of Aldeyra Therapeutics in the first quarter worth about $26,000. Krilogy Financial LLC acquired a new stake in Aldeyra Therapeutics in the 1st quarter valued at approximately $26,000. Chicago Partners Investment Group LLC bought a new position in Aldeyra Therapeutics during the first quarter worth $33,000. Hikari Power Ltd bought a new position in shares of Aldeyra Therapeutics during the 2nd quarter worth about $43,000. Finally, Caption Management LLC increased its stake in Aldeyra Therapeutics by 110.6% during the second quarter. Caption Management LLC now owns 12,664 shares of the biotechnology company's stock valued at $49,000 after acquiring an additional 132,358 shares during the period. 59.71% of the stock is currently owned by institutional investors.

Aldeyra Therapeutics Company Profile

Aldeyra Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small molecule therapies for immune-mediated diseases. The company's research efforts center on targeted alkenals, a class of reactive aldehyde species that play a key role in inflammatory pathways. By selectively modulating these pathways, Aldeyra aims to address both ocular and systemic indications with high unmet medical need.

The company's lead product candidate, reproxalap, is being investigated in several ophthalmic disorders, including dry eye disease, allergic conjunctivitis and non-infectious anterior uveitis.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source