Aldeyra Therapeutics (NASDAQ:ALDX) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $4.89 and traded as high as $5.65. Aldeyra Therapeutics shares last traded at $5.54, with a volume of 865,280 shares.

Analysts Set New Price Targets

A number of research analysts have recently commented on ALDX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Aldeyra Therapeutics in a research note on Wednesday, October 8th. BTIG Research restated a “buy” rating and set a $9.00 price target on shares of Aldeyra Therapeutics in a research note on Monday, November 10th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Aldeyra Therapeutics currently has an average rating of “Hold” and a consensus target price of $9.50.

Aldeyra Therapeutics Stock Up 5.9%

The stock has a market cap of $333.29 million, a P/E ratio of -7.59 and a beta of 0.86. The company has a 50-day simple moving average of $4.89 and a two-hundred day simple moving average of $5.16.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings data on Wednesday, November 5th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.04. As a group, sell-side analysts forecast that Aldeyra Therapeutics, Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Aldeyra Therapeutics

A number of hedge funds have recently bought and sold shares of ALDX. Public Employees Retirement System of Ohio purchased a new position in shares of Aldeyra Therapeutics during the 2nd quarter valued at about $25,000. King Wealth Management Group bought a new stake in Aldeyra Therapeutics in the 2nd quarter worth approximately $46,000. Caption Management LLC raised its stake in Aldeyra Therapeutics by 110.6% during the second quarter. Caption Management LLC now owns 12,664 shares of the biotechnology company’s stock valued at $49,000 after purchasing an additional 132,358 shares in the last quarter. Inspirion Wealth Advisors LLC purchased a new stake in shares of Aldeyra Therapeutics during the 4th quarter valued at about $52,000. Finally, BNP Paribas Financial Markets raised its position in Aldeyra Therapeutics by 36.9% during the third quarter. BNP Paribas Financial Markets now owns 10,610 shares of the biotechnology company’s stock valued at $55,000 after purchasing an additional 2,859 shares during the period. Hedge funds and other institutional investors own 59.71% of the company’s stock.

About Aldeyra Therapeutics

Aldeyra Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of novel small molecule therapies for immune-mediated diseases. The company’s research efforts center on targeted alkenals, a class of reactive aldehyde species that play a key role in inflammatory pathways. By selectively modulating these pathways, Aldeyra aims to address both ocular and systemic indications with high unmet medical need.

The company’s lead product candidate, reproxalap, is being investigated in several ophthalmic disorders, including dry eye disease, allergic conjunctivitis and non-infectious anterior uveitis.