Short Interest in Aldeyra Therapeutics, Inc (NASDAQ:ALDX) Increases By 13.3%

Aldeyra Therapeutics, Inc (NASDAQ:ALDX - Get Free Report) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 3,400,000 shares, a growth of 13.3% from the September 30th total of 3,000,000 shares. Based on an average daily volume of 532,600 shares, the days-to-cover ratio is currently 6.4 days. Currently, 5.9% of the shares of the company are short sold.

Institutional Investors Weigh In On Aldeyra Therapeutics

Hedge funds have recently modified their holdings of the business. US Bancorp DE bought a new stake in shares of Aldeyra Therapeutics during the 3rd quarter valued at $30,000. SG Americas Securities LLC bought a new position in Aldeyra Therapeutics in the 2nd quarter worth $38,000. Diversified Trust Co bought a new position in Aldeyra Therapeutics in the 2nd quarter worth $41,000. Laidlaw Wealth Management LLC boosted its holdings in Aldeyra Therapeutics by 32.6% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 16,875 shares of the biotechnology company's stock worth $56,000 after buying an additional 4,150 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Aldeyra Therapeutics by 14.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,734 shares of the biotechnology company's stock worth $72,000 after buying an additional 2,729 shares during the period. Institutional investors own 59.71% of the company's stock.

Aldeyra Therapeutics Stock Performance

Shares of ALDX stock traded down $0.20 during mid-day trading on Tuesday, reaching $5.42. 507,380 shares of the company's stock traded hands, compared to its average volume of 491,975. Aldeyra Therapeutics has a 12 month low of $1.47 and a 12 month high of $6.55. The firm has a 50 day moving average price of $5.60 and a two-hundred day moving average price of $4.50. The firm has a market capitalization of $322.02 million, a PE ratio of -10.96 and a beta of 1.44.

Analyst Upgrades and Downgrades

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

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.