Aldeyra Therapeutics, Inc (NASDAQ:ALDX) Sees Large Increase in Short Interest

Aldeyra Therapeutics, Inc (NASDAQ:ALDX - Get Free Report) was the target of a significant increase in short interest in November. As of November 15th, there was short interest totalling 3,890,000 shares, an increase of 6.0% from the October 31st total of 3,670,000 shares. Based on an average daily trading volume, of 493,300 shares, the days-to-cover ratio is currently 7.9 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Diversified Trust Co acquired a new position in shares of Aldeyra Therapeutics in the 2nd quarter valued at $41,000. Federated Hermes Inc. acquired a new position in Aldeyra Therapeutics in the second quarter valued at $1,758,000. International Assets Investment Management LLC raised its holdings in shares of Aldeyra Therapeutics by 397.0% in the third quarter. International Assets Investment Management LLC now owns 287,287 shares of the biotechnology company's stock valued at $15,480,000 after buying an additional 229,487 shares during the last quarter. Perceptive Advisors LLC boosted its stake in shares of Aldeyra Therapeutics by 7.9% during the second quarter. Perceptive Advisors LLC now owns 9,275,851 shares of the biotechnology company's stock worth $30,703,000 after buying an additional 682,265 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Aldeyra Therapeutics by 7.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 48,273 shares of the biotechnology company's stock worth $158,000 after buying an additional 3,446 shares during the last quarter. 59.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a "buy" rating and issued a $10.00 price target on shares of Aldeyra Therapeutics in a research note on Friday, August 9th.

Aldeyra Therapeutics Price Performance

Aldeyra Therapeutics stock traded down $0.08 during midday trading on Tuesday, reaching $4.74. The company's stock had a trading volume of 396,535 shares, compared to its average volume of 568,202. 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 business has a 50-day simple moving average of $5.19 and a 200-day simple moving average of $4.67. Aldeyra Therapeutics has a fifty-two week low of $2.71 and a fifty-two week high of $6.55.

Aldeyra Therapeutics (NASDAQ:ALDX - Get Free Report) last posted its earnings results on Thursday, November 7th. The biotechnology company reported ($0.25) earnings per share for the quarter, hitting the consensus estimate of ($0.25). On average, equities analysts predict that Aldeyra Therapeutics will post -0.92 EPS for the current year.

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.