BTIG Research Cuts Aldeyra Therapeutics (NASDAQ:ALDX) Price Target to $9.00

Aldeyra Therapeutics (NASDAQ:ALDX) had its price objective trimmed by BTIG Research from $11.00 to $9.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Separately, HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of Aldeyra Therapeutics in a report on Friday, April 4th.

Aldeyra Therapeutics Price Performance

ALDX stock opened at $1.94 on Monday. Aldeyra Therapeutics has a 1-year low of $1.14 and a 1-year high of $7.20. The business has a 50-day moving average price of $5.67 and a 200 day moving average price of $5.31. The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.80 and a current ratio of 6.80.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.30). As a group, equities research analysts anticipate that Aldeyra Therapeutics will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of Aldeyra Therapeutics 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 transaction, the insider now directly owns 5,875,851 shares of the company’s stock, valued at approximately $8,343,708.42. The trade was a 36.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of Aldeyra Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in Aldeyra Therapeutics by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,119,555 shares of the biotechnology company’s stock valued at $5,588,000 after buying an additional 4,927 shares in the last quarter. State Street Corp grew its stake in shares of Aldeyra Therapeutics by 1.7% during the third quarter. State Street Corp now owns 973,908 shares of the biotechnology company’s stock worth $5,249,000 after acquiring an additional 16,188 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Aldeyra Therapeutics by 21.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 735,763 shares of the biotechnology company’s stock valued at $3,672,000 after acquiring an additional 131,722 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Aldeyra Therapeutics in the 4th quarter valued at approximately $3,628,000. Finally, ADAR1 Capital Management LLC raised its position in shares of Aldeyra Therapeutics by 114.4% in the 4th quarter. ADAR1 Capital Management LLC now owns 647,960 shares of the biotechnology company’s stock valued at $3,233,000 after purchasing an additional 345,748 shares during the last quarter. Hedge funds and other institutional investors own 59.71% of the company’s stock.

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.