Aldeyra Therapeutics, Inc (NASDAQ:ALDX) Sees Significant Growth in Short Interest

Aldeyra Therapeutics, Inc (NASDAQ:ALDX) saw a large increase in short interest in November. As of November 15th, there was short interest totalling 3,890,000 shares, an increase of 6.0% from the October 31st total of 3,670,000 shares. Based on an average trading volume of 493,300 shares, the days-to-cover ratio is currently 7.9 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. King Wealth Management Group grew its position in Aldeyra Therapeutics by 24.5% during the third quarter. King Wealth Management Group now owns 13,700 shares of the biotechnology company’s stock worth $74,000 after buying an additional 2,700 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Aldeyra Therapeutics by 14.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,734 shares of the biotechnology company’s stock valued at $72,000 after purchasing an additional 2,729 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Aldeyra Therapeutics by 7.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 48,273 shares of the biotechnology company’s stock worth $158,000 after purchasing an additional 3,446 shares during the period. Providence Wealth Advisors LLC lifted its position in Aldeyra Therapeutics by 16.3% in the second quarter. Providence Wealth Advisors LLC now owns 25,000 shares of the biotechnology company’s stock worth $84,000 after purchasing an additional 3,500 shares during the period. Finally, Laidlaw Wealth Management LLC increased its holdings in Aldeyra Therapeutics by 32.6% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 16,875 shares of the biotechnology company’s stock valued at $56,000 after buying an additional 4,150 shares during the period. Institutional investors own 59.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a research report on Friday, August 9th.

Aldeyra Therapeutics Stock Up 1.9 %

Shares of NASDAQ ALDX traded up $0.09 during trading hours on Wednesday, hitting $4.83. 58,303 shares of the company’s stock were exchanged, compared to its average volume of 495,103. The company’s 50-day moving average price is $5.19 and its 200-day moving average price is $4.67. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.80 and a quick ratio of 6.80. Aldeyra Therapeutics has a 1-year low of $2.71 and a 1-year high of $6.55.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($0.25) earnings per share for the quarter, meeting the consensus estimate of ($0.25). As a group, research analysts anticipate that Aldeyra Therapeutics will post -0.92 earnings per share 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.