Aldeyra Therapeutics (NASDAQ:ALDX) Issues Quarterly Earnings Results

Aldeyra Therapeutics (NASDAQ:ALDX) posted its earnings results on Wednesday. The biotechnology company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.04, FiscalAI reports.

Aldeyra Therapeutics Price Performance

Shares of ALDX opened at $4.72 on Friday. Aldeyra Therapeutics has a 1 year low of $1.14 and a 1 year high of $7.20. The business has a 50-day moving average of $5.31 and a 200-day moving average of $4.31. The company has a market capitalization of $282.71 million, a price-to-earnings ratio of -5.54 and a beta of 0.79.

Analysts Set New Price Targets

Several brokerages have commented on ALDX. Zacks Research upgraded shares of Aldeyra Therapeutics to a “hold” rating in a research report on Friday, August 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aldeyra Therapeutics in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $9.50.

Insider Buying and Selling

In other Aldeyra Therapeutics news, insider Stephen Machatha sold 22,073 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $5.15, for a total transaction of $113,675.95. Following the completion of the sale, the insider directly owned 221,799 shares in the company, valued at approximately $1,142,264.85. This trade represents a 9.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ALDX. AQR Capital Management LLC boosted its stake in Aldeyra Therapeutics by 456.3% during the first quarter. AQR Capital Management LLC now owns 392,555 shares of the biotechnology company’s stock worth $2,257,000 after acquiring an additional 321,992 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Aldeyra Therapeutics during the 1st quarter worth about $218,000. Jane Street Group LLC acquired a new stake in shares of Aldeyra Therapeutics in the 1st quarter valued at about $1,024,000. Acadian Asset Management LLC increased its position in Aldeyra Therapeutics by 7,402.7% in the 1st quarter. Acadian Asset Management LLC now owns 95,960 shares of the biotechnology company’s stock valued at $551,000 after buying an additional 94,681 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Aldeyra Therapeutics by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,146,597 shares of the biotechnology company’s stock worth $4,392,000 after buying an additional 8,769 shares during the period. Institutional investors and hedge funds own 59.71% of the company’s stock.

About Aldeyra Therapeutics

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.