Insider Buying: Aldeyra Therapeutics (NASDAQ:ALDX) CEO Acquires 250,000 Shares of Stock

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) CEO Todd Brady bought 250,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was bought at an average price of $1.67 per share, with a total value of $417,500.00. Following the completion of the acquisition, the chief executive officer owned 1,721,298 shares in the company, valued at $2,874,567.66. This represents a 16.99% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Aldeyra Therapeutics Stock Down 7.4%

Shares of ALDX traded down $0.13 during midday trading on Friday, reaching $1.63. The company had a trading volume of 946,125 shares, compared to its average volume of 2,162,364. Aldeyra Therapeutics, Inc. has a 1-year low of $1.07 and a 1-year high of $6.18. The firm has a 50 day simple moving average of $1.68 and a 200-day simple moving average of $3.69. The stock has a market cap of $98.32 million, a PE ratio of -3.54 and a beta of 1.19.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.07. As a group, sell-side analysts anticipate that Aldeyra Therapeutics, Inc. will post -0.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on ALDX shares. Wall Street Zen lowered Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. BTIG Research restated a “buy” rating on shares of Aldeyra Therapeutics in a research report on Tuesday, March 17th. HC Wainwright reaffirmed a “neutral” rating and issued a $2.00 price target (down from $10.00) on shares of Aldeyra Therapeutics in a research note on Wednesday, March 18th. Finally, Weiss Ratings downgraded Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALDX. Renaissance Technologies LLC grew its position in shares of Aldeyra Therapeutics by 146.6% during the first quarter. Renaissance Technologies LLC now owns 863,187 shares of the biotechnology company’s stock worth $1,459,000 after buying an additional 513,187 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Aldeyra Therapeutics by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 624,170 shares of the biotechnology company’s stock worth $1,055,000 after purchasing an additional 11,912 shares during the last quarter. Bank of New York Mellon Corp increased its position in Aldeyra Therapeutics by 18.1% during the first quarter. Bank of New York Mellon Corp now owns 136,746 shares of the biotechnology company’s stock worth $231,000 after buying an additional 20,980 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in Aldeyra Therapeutics in the first quarter valued at approximately $33,000. Finally, Abel Hall LLC acquired a new stake in shares of Aldeyra Therapeutics in the first quarter valued at approximately $26,000. 59.71% of the stock is 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.