Aldeyra Therapeutics' (ALDX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX - Free Report) in a report published on Friday,Benzinga reports. They currently have a $10.00 target price on the biotechnology company's stock.

Aldeyra Therapeutics Price Performance

Shares of ALDX traded up $0.02 during trading on Friday, reaching $1.94. The company's stock had a trading volume of 1,440,280 shares, compared to its average volume of 667,919. Aldeyra Therapeutics has a twelve month low of $1.14 and a twelve month high of $7.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.80 and a current ratio of 6.80. The company has a fifty day moving average of $5.81 and a two-hundred day moving average of $5.36.

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

Insider Transactions at Aldeyra Therapeutics

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 stock was sold at an average price of $1.42, for a total transaction of $4,828,000.00. Following the sale, the insider now directly owns 5,875,851 shares in the company, valued at approximately $8,343,708.42. This represents a 36.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.50% of the company's stock.

Institutional Investors Weigh In On Aldeyra Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ALDX. Raymond James Financial Inc. acquired a new stake in shares of Aldeyra Therapeutics in the 4th quarter worth about $3,628,000. ADAR1 Capital Management LLC raised its holdings in shares of Aldeyra Therapeutics by 114.4% during the fourth quarter. ADAR1 Capital Management LLC now owns 647,960 shares of the biotechnology company's stock valued at $3,233,000 after buying an additional 345,748 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Aldeyra Therapeutics by 163.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 476,949 shares of the biotechnology company's stock worth $2,571,000 after buying an additional 295,864 shares during the period. 683 Capital Management LLC bought a new position in Aldeyra Therapeutics in the 4th quarter worth approximately $1,447,000. Finally, Millennium Management LLC bought a new position in Aldeyra Therapeutics in the 4th quarter worth approximately $808,000. 59.71% of the stock is currently owned by institutional investors.

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.