Aldeyra Therapeutics (NASDAQ:ALDX) Stock Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Aldeyra Therapeutics shares fell below their 200-day moving average, trading as low as $1.46 and closing at $1.48 versus the $2.21 average. The company’s market capitalization is approximately $89.3 million.
• Analyst sentiment is mixed but leans cautious: Aldeyra has one Buy, one Hold, and one Sell rating, producing a consensus “Hold” rating and a $5.50 target price. Wall Street Zen recently downgraded the stock to “Sell.”
• The biotechnology company met quarterly expectations with a loss of $0.09 per share, while analysts expect a full-year loss of $0.39 per share. Institutional investors own about 59.7% of the stock, and Aldeyra’s lead candidate, reproxalap, is being developed for several inflammatory eye conditions.

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.21 and traded as low as $1.46. Aldeyra Therapeutics shares last traded at $1.48, with a volume of 568,926 shares.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wall Street Zen cut shares of Aldeyra Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Weiss Ratings upgraded shares of Aldeyra Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Aldeyra Therapeutics currently has an average rating of "Hold" and a consensus target price of $5.50.

Aldeyra Therapeutics Stock Performance

The stock has a market capitalization of $89.29 million, a price-to-earnings ratio of -3.79 and a beta of 1.20. The company has a fifty day simple moving average of $1.72 and a two-hundred day simple moving average of $2.21.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last released its earnings results on Thursday, August 6th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). As a group, equities analysts anticipate that Aldeyra Therapeutics, Inc. will post -0.39 earnings per share for the current year.

Hedge Funds Weigh In On Aldeyra Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its position in shares of Aldeyra Therapeutics by 10.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,074 shares of the biotechnology company's stock worth $77,000 after acquiring an additional 1,972 shares in the last quarter. Rhumbline Advisers raised its position in Aldeyra Therapeutics by 2.7% during the second quarter. Rhumbline Advisers now owns 77,494 shares of the biotechnology company's stock valued at $297,000 after purchasing an additional 2,018 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Aldeyra Therapeutics by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 152,787 shares of the biotechnology company's stock valued at $791,000 after purchasing an additional 2,309 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its position in Aldeyra Therapeutics by 25.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 12,187 shares of the biotechnology company's stock valued at $63,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Aldeyra Therapeutics by 0.8% during the fourth quarter. Deutsche Bank AG now owns 317,335 shares of the biotechnology company's stock worth $1,644,000 after purchasing an additional 2,607 shares during the last quarter. 59.71% of the stock is currently owned by institutional investors and hedge funds.

About Aldeyra Therapeutics

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.

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