Stock Traders Purchase Large Volume of Aldeyra Therapeutics Put Options (ALDX)
Aldeyra Therapeutics, Inc (NASDAQ:ALDX) saw unusually large options trading on Wednesday. Traders bought 1,453 put options on the company. This is an increase of 2,642% compared to the typical daily volume of 53 put options.
Several institutional investors and hedge funds have recently modified their holdings of ALDX. BlackRock Inc. raised its holdings in shares of Aldeyra Therapeutics by 1,881.2% during the 2nd quarter. BlackRock Inc. now owns 780,744 shares of the biotechnology company’s stock worth $6,207,000 after acquiring an additional 741,337 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Aldeyra Therapeutics during the 2nd quarter worth approximately $1,335,000. Northern Trust Corp raised its holdings in shares of Aldeyra Therapeutics by 297.2% during the 2nd quarter. Northern Trust Corp now owns 191,275 shares of the biotechnology company’s stock worth $1,520,000 after acquiring an additional 143,124 shares in the last quarter. Mesirow Financial Investment Management Inc. bought a new position in shares of Aldeyra Therapeutics during the 2nd quarter valued at approximately $327,000. Finally, Essex Investment Management Co. LLC bought a new position in shares of Aldeyra Therapeutics during the 2nd quarter valued at approximately $312,000. 57.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of ALDX opened at $14.35 on Friday. The company has a market cap of $207.65 million, a PE ratio of -9.61 and a beta of 0.55. Aldeyra Therapeutics has a 1 year low of $5.55 and a 1 year high of $16.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.11 and a current ratio of 8.11.
A number of research analysts recently commented on the company. Janney Montgomery Scott boosted their price target on Aldeyra Therapeutics to $28.00 and gave the stock a “positive” rating in a report on Thursday. Canaccord Genuity boosted their price target on Aldeyra Therapeutics from $27.00 to $35.00 and gave the stock a “positive” rating in a report on Wednesday. Stifel Nicolaus boosted their price target on Aldeyra Therapeutics from $16.00 to $36.00 and gave the stock an “in-line” rating in a report on Wednesday. They noted that the move was a valuation call. Cantor Fitzgerald set a $30.00 price target on Aldeyra Therapeutics and gave the stock an “overweight” rating in a report on Wednesday. Finally, ValuEngine raised Aldeyra Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, September 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Aldeyra Therapeutics currently has an average rating of “Buy” and a consensus price target of $24.92.
Aldeyra Therapeutics Company Profile
Aldeyra Therapeutics, Inc, a biotechnology company, focuses on the development of products for inflammation, inborn errors of metabolism, and other diseases in the United States and internationally. It is developing ADX-102, a small molecule designed to trap and allow for the degradation of aldehydes, as well as ADX-103 and ADX-104 novel candidates for the treatment of noninfectious anterior uveitis, allergic conjunctivitis, dry eye syndrome, sjögren-larsson syndrome, and succinic semi-aldehyde dehydrogenase deficiency.
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