Two Sigma Investments LP Buys New Position in Aldeyra Therapeutics, Inc (NASDAQ:ALDX)

Two Sigma Investments LP purchased a new stake in Aldeyra Therapeutics, Inc (NASDAQ:ALDX) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 78,560 shares of the biotechnology company’s stock, valued at approximately $194,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prosight Management LP increased its holdings in shares of Aldeyra Therapeutics by 42.5% during the first quarter. Prosight Management LP now owns 2,035,340 shares of the biotechnology company’s stock valued at $5,027,000 after acquiring an additional 607,063 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Aldeyra Therapeutics by 1.9% during the first quarter. BlackRock Inc. now owns 1,614,192 shares of the biotechnology company’s stock valued at $3,988,000 after buying an additional 29,567 shares during the last quarter. Knoll Capital Management LP increased its position in shares of Aldeyra Therapeutics by 7.1% in the 4th quarter. Knoll Capital Management LP now owns 569,405 shares of the biotechnology company’s stock valued at $3,308,000 after acquiring an additional 37,837 shares during the period. State Street Corp raised its stake in Aldeyra Therapeutics by 4.6% in the 4th quarter. State Street Corp now owns 417,207 shares of the biotechnology company’s stock worth $2,424,000 after acquiring an additional 18,351 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Aldeyra Therapeutics by 0.9% during the 1st quarter. Geode Capital Management LLC now owns 332,754 shares of the biotechnology company’s stock worth $821,000 after acquiring an additional 3,062 shares during the period. 56.35% of the stock is owned by institutional investors and hedge funds.

ALDX has been the topic of a number of research reports. Janney Montgomery Scott reissued a “market perform” rating and issued a $28.00 price objective on shares of Aldeyra Therapeutics in a report on Tuesday, May 26th. Oppenheimer assumed coverage on shares of Aldeyra Therapeutics in a report on Thursday, June 4th. They issued a “buy” rating and a $15.00 price target on the stock. Laidlaw restated a “buy” rating and set a $30.00 price objective on shares of Aldeyra Therapeutics in a research note on Tuesday, May 26th. Finally, Zacks Investment Research raised shares of Aldeyra Therapeutics from a “hold” rating to a “buy” rating and set a $2.75 price objective on the stock in a report on Monday, March 30th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Aldeyra Therapeutics currently has a consensus rating of “Buy” and an average price target of $21.75.

NASDAQ:ALDX opened at $4.17 on Wednesday. The company has a quick ratio of 12.84, a current ratio of 12.84 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $4.42 and a 200-day moving average price of $4.28. Aldeyra Therapeutics, Inc has a 1-year low of $1.48 and a 1-year high of $8.05.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.14. Analysts forecast that Aldeyra Therapeutics, Inc will post -1.46 EPS for the current fiscal year.

Aldeyra Therapeutics 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.

Further Reading: Straddles

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Institutional Ownership by Quarter for Aldeyra Therapeutics (NASDAQ:ALDX)

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