Aldeyra Therapeutics (NASDAQ:ALDX) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.50 and traded as low as $1.7450. Aldeyra Therapeutics shares last traded at $1.78, with a volume of 926,923 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ALDX shares. HC Wainwright reissued a “neutral” rating and issued a $2.00 target price (down from $10.00) on shares of Aldeyra Therapeutics in a report on Wednesday, March 18th. BTIG Research restated a “buy” rating on shares of Aldeyra Therapeutics in a research note on Tuesday, March 17th. Weiss Ratings lowered Aldeyra Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen raised shares of Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.50.

Aldeyra Therapeutics Trading Up 7.1%

The stock has a market capitalization of $118.23 million, a price-to-earnings ratio of -4.26 and a beta of 1.19. The firm has a 50-day moving average of $1.69 and a 200 day moving average of $3.45.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.07. Equities research analysts predict that Aldeyra Therapeutics, Inc. will post -0.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Todd C. Brady purchased 250,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were bought at an average cost of $1.67 per share, for a total transaction of $417,500.00. Following the transaction, the chief executive officer owned 1,721,298 shares of the company’s stock, valued at $2,874,567.66. This represents a 16.99% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 11.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Inspirion Wealth Advisors LLC bought a new stake in Aldeyra Therapeutics during the fourth quarter worth approximately $52,000. Global Retirement Partners LLC bought a new position in Aldeyra Therapeutics during the 4th quarter valued at $52,000. CIBC Private Wealth Group LLC acquired a new position in shares of Aldeyra Therapeutics during the 3rd quarter valued at $55,000. BNP Paribas Financial Markets raised its stake in shares of Aldeyra Therapeutics by 36.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,610 shares of the biotechnology company’s stock worth $55,000 after buying an additional 2,859 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Aldeyra Therapeutics in the 4th quarter worth $62,000. 59.71% of the stock is currently owned by institutional investors.

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.