Aldeyra Therapeutics (NASDAQ:ALDX) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Aldeyra Therapeutics (NASDAQ:ALDX) posted its quarterly earnings data on Thursday. The biotechnology company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01), FiscalAI reports.

Aldeyra Therapeutics Stock Performance

ALDX traded down $0.01 during trading on Thursday, hitting $1.59. 573,829 shares of the stock were exchanged, compared to its average volume of 1,133,913. The firm has a 50 day simple moving average of $1.83 and a 200 day simple moving average of $2.73. The firm has a market cap of $95.91 million, a price-to-earnings ratio of -3.46 and a beta of 1.21. Aldeyra Therapeutics has a 1 year low of $1.07 and a 1 year high of $6.17.

Wall Street Analysts Forecast Growth

ALDX has been the subject of several analyst reports. Wall Street Zen raised shares of Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings cut shares of Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.50.

Insider Activity

In other news, CEO Todd C. Brady acquired 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average cost of $1.67 per share, for a total transaction of $417,500.00. Following the completion of the acquisition, the chief executive officer directly owned 1,721,298 shares of the company’s stock, valued at $2,874,567.66. The trade was a 16.99% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 11.80% of the company’s stock.

Hedge Funds Weigh In On Aldeyra Therapeutics

Several institutional investors have recently bought and sold shares of ALDX. Global Retirement Partners LLC bought a new position in shares of Aldeyra Therapeutics in the 4th quarter worth $52,000. CIBC Private Wealth Group LLC purchased a new position in Aldeyra Therapeutics in the third quarter valued at about $55,000. BNP Paribas Financial Markets grew its stake in Aldeyra Therapeutics by 36.9% in the third quarter. BNP Paribas Financial Markets now owns 10,610 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 2,859 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in Aldeyra Therapeutics by 25.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 12,187 shares of the biotechnology company’s stock worth $63,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Caption Management LLC raised its stake in shares of Aldeyra Therapeutics by 110.6% during the 2nd quarter. Caption Management LLC now owns 12,664 shares of the biotechnology company’s stock worth $49,000 after acquiring an additional 132,358 shares in the last quarter. 59.71% of the stock is owned by hedge funds and other institutional investors.

Aldeyra Therapeutics Company Profile

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.