Letko Brosseau & Associates Inc. Acquires Shares of 17,300 Aldeyra Therapeutics, Inc (NASDAQ:ALDX)

Letko Brosseau & Associates Inc. acquired a new stake in Aldeyra Therapeutics, Inc (NASDAQ:ALDX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 17,300 shares of the biotechnology company’s stock, valued at approximately $86,000.

A number of other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG increased its position in shares of Aldeyra Therapeutics by 6.2% in the fourth quarter. Deutsche Bank AG now owns 319,287 shares of the biotechnology company’s stock valued at $1,593,000 after acquiring an additional 18,696 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Aldeyra Therapeutics in the fourth quarter valued at about $56,000. 683 Capital Management LLC purchased a new position in shares of Aldeyra Therapeutics in the fourth quarter valued at about $1,447,000. Northern Trust Corp increased its position in shares of Aldeyra Therapeutics by 4.3% in the fourth quarter. Northern Trust Corp now owns 405,517 shares of the biotechnology company’s stock valued at $2,024,000 after acquiring an additional 16,894 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of Aldeyra Therapeutics in the fourth quarter valued at about $52,000. Hedge funds and other institutional investors own 59.71% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $1.42, for a total transaction of $4,828,000.00. Following the sale, the insider now owns 5,875,851 shares in the company, valued at $8,343,708.42. This represents a 36.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 9.60% of the company’s stock.

Aldeyra Therapeutics Price Performance

Shares of NASDAQ ALDX opened at $2.18 on Monday. Aldeyra Therapeutics, Inc has a 1 year low of $1.14 and a 1 year high of $7.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.80 and a quick ratio of 6.80. The company’s 50-day moving average is $3.99 and its 200 day moving average is $4.84. The stock has a market capitalization of $130.57 million, a P/E ratio of -2.32 and a beta of 0.92.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.30). On average, sell-side analysts expect that Aldeyra Therapeutics, Inc will post -0.92 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $10.00 price objective on shares of Aldeyra Therapeutics in a research report on Friday, April 4th. BTIG Research reduced their price target on shares of Aldeyra Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday, April 7th.

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.