Aldeyra Therapeutics, Inc (NASDAQ:ALDX) Short Interest Up 21.4% in April

Aldeyra Therapeutics, Inc (NASDAQ:ALDX - Get Free Report) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 4,310,000 shares, a growth of 21.4% from the March 31st total of 3,550,000 shares. Based on an average daily volume of 1,490,000 shares, the short-interest ratio is presently 2.9 days. Approximately 7.9% of the shares of the stock are sold short.

Insider Activity at Aldeyra Therapeutics

In related news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $1.42, for a total value of $4,828,000.00. Following the completion of the transaction, the insider now directly owns 5,875,851 shares of the company's stock, valued at $8,343,708.42. This trade represents a 36.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.50% of the company's stock.

Institutional Investors Weigh In On Aldeyra Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in ALDX. Raymond James Financial Inc. purchased a new stake in Aldeyra Therapeutics in the 4th quarter valued at about $3,628,000. Barclays PLC boosted its position in shares of Aldeyra Therapeutics by 280.1% in the third quarter. Barclays PLC now owns 65,561 shares of the biotechnology company's stock worth $353,000 after acquiring an additional 48,313 shares during the last quarter. SG Americas Securities LLC grew its holdings in Aldeyra Therapeutics by 14.4% in the fourth quarter. SG Americas Securities LLC now owns 22,365 shares of the biotechnology company's stock valued at $112,000 after purchasing an additional 2,822 shares during the period. AlphaCentric Advisors LLC acquired a new position in Aldeyra Therapeutics during the fourth quarter worth approximately $234,000. Finally, Wells Fargo & Company MN raised its stake in Aldeyra Therapeutics by 1.9% during the fourth quarter. Wells Fargo & Company MN now owns 393,654 shares of the biotechnology company's stock worth $1,964,000 after purchasing an additional 7,348 shares during the period. Hedge funds and other institutional investors own 59.71% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BTIG Research cut their price target on Aldeyra Therapeutics from $11.00 to $9.00 and set a "buy" rating for the company in a research note on Monday, April 7th. HC Wainwright restated a "buy" rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a research report on Friday, April 4th.

Aldeyra Therapeutics Price Performance

ALDX stock traded down $0.11 during trading on Monday, hitting $2.70. The stock had a trading volume of 983,923 shares, compared to its average volume of 732,978. Aldeyra Therapeutics has a 1-year low of $1.14 and a 1-year high of $7.20. The stock has a market cap of $161.72 million, a price-to-earnings ratio of -2.87 and a beta of 0.94. The company's 50 day moving average price is $4.29 and its two-hundred day moving average price is $4.94. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.80 and a current ratio of 6.80.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.30). On average, sell-side analysts forecast that Aldeyra Therapeutics will post -0.92 EPS for the current fiscal 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.