ADAR1 Capital Management LLC Purchases 345,748 Shares of Aldeyra Therapeutics, Inc (NASDAQ:ALDX)

ADAR1 Capital Management LLC boosted its position in Aldeyra Therapeutics, Inc (NASDAQ:ALDX - Free Report) by 114.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 647,960 shares of the biotechnology company's stock after acquiring an additional 345,748 shares during the period. ADAR1 Capital Management LLC owned 1.09% of Aldeyra Therapeutics worth $3,233,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ALDX. Raymond James Financial Inc. bought a new position in shares of Aldeyra Therapeutics in the 4th quarter worth approximately $3,628,000. Jacobs Levy Equity Management Inc. raised its holdings in Aldeyra Therapeutics by 163.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 476,949 shares of the biotechnology company's stock worth $2,571,000 after purchasing an additional 295,864 shares in the last quarter. Kennondale Capital Management LLC purchased a new position in Aldeyra Therapeutics during the fourth quarter valued at $755,000. Trexquant Investment LP lifted its position in Aldeyra Therapeutics by 895.5% during the fourth quarter. Trexquant Investment LP now owns 114,480 shares of the biotechnology company's stock valued at $571,000 after buying an additional 102,980 shares during the period. Finally, Barclays PLC grew its position in shares of Aldeyra Therapeutics by 280.1% in the 3rd quarter. Barclays PLC now owns 65,561 shares of the biotechnology company's stock worth $353,000 after buying an additional 48,313 shares during the period. Hedge funds and other institutional investors own 59.71% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALDX shares. HC Wainwright reiterated a "buy" rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a report on Friday, April 4th. BTIG Research lowered their price objective on Aldeyra Therapeutics from $11.00 to $9.00 and set a "buy" rating for the company in a research note on Monday, April 7th.

Insider Activity

In related news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $1.42, for a total value of $4,828,000.00. Following the completion of the transaction, the insider now owns 5,875,851 shares of the company's stock, valued at approximately $8,343,708.42. This represents a 36.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 8.50% of the company's stock.

Aldeyra Therapeutics Stock Up 1.1 %

Shares of ALDX traded up $0.02 during mid-day trading on Friday, hitting $1.91. 1,717,870 shares of the company traded hands, compared to its average volume of 680,193. Aldeyra Therapeutics, Inc has a 1 year low of $1.14 and a 1 year high of $7.20. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $5.54 and a two-hundred day moving average price of $5.26.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.30). On average, equities analysts forecast that Aldeyra Therapeutics, Inc will post -0.92 earnings per share for the current year.

Aldeyra Therapeutics Company 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.