Aldeyra Therapeutics (NASDAQ:ALDX) Announces Earnings Results, Hits Expectations

Aldeyra Therapeutics (NASDAQ:ALDX) announced its earnings results on Thursday. The biotechnology company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09), FiscalAI reports.

Aldeyra Therapeutics Trading Down 2.5%

Shares of NASDAQ ALDX traded down $0.04 during mid-day trading on Friday, hitting $1.55. The company had a trading volume of 1,171,174 shares, compared to its average volume of 1,980,641. The firm has a 50-day simple moving average of $1.83 and a two-hundred day simple moving average of $2.73. The company has a market capitalization of $93.50 million, a PE ratio of -3.37 and a beta of 1.21. Aldeyra Therapeutics has a one year low of $1.07 and a one year high of $6.17.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen upgraded Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Weiss Ratings cut 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 given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $5.50.

Insiders Place Their Bets

In other news, CEO Todd C. Brady purchased 250,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was purchased at an average price of $1.67 per share, for a total transaction of $417,500.00. Following the completion of the purchase, the chief executive officer directly owned 1,721,298 shares in the company, valued at $2,874,567.66. The trade was a 16.99% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aldeyra Therapeutics

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

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.