Traders Buy Large Volume of Put Options on Aldeyra Therapeutics (NASDAQ:ALDX)

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) saw unusually large options trading on Tuesday. Traders bought 31,566 put options on the stock. This represents an increase of 1,329% compared to the average daily volume of 2,209 put options.

Aldeyra Therapeutics Stock Down 68.7%

Shares of NASDAQ ALDX traded down $2.91 during midday trading on Tuesday, hitting $1.33. The stock had a trading volume of 42,245,261 shares, compared to its average volume of 1,824,579. The stock has a 50 day simple moving average of $4.98 and a 200-day simple moving average of $5.11. The company has a market capitalization of $79.74 million, a PE ratio of -2.32 and a beta of 0.97. Aldeyra Therapeutics has a 1 year low of $1.07 and a 1 year high of $6.87.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings data on Friday, February 27th. The biotechnology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.03. As a group, analysts expect that Aldeyra Therapeutics will post -0.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALDX. Vanguard Group Inc. grew its position in Aldeyra Therapeutics by 2.6% in the third quarter. Vanguard Group Inc. now owns 3,591,869 shares of the biotechnology company’s stock worth $18,750,000 after acquiring an additional 90,276 shares during the period. 683 Capital Management LLC raised its holdings in Aldeyra Therapeutics by 86.6% in the 4th quarter. 683 Capital Management LLC now owns 1,530,000 shares of the biotechnology company’s stock valued at $7,925,000 after buying an additional 710,000 shares during the period. AQR Capital Management LLC lifted its position in Aldeyra Therapeutics by 275.4% in the second quarter. AQR Capital Management LLC now owns 1,473,812 shares of the biotechnology company’s stock valued at $5,645,000 after buying an additional 1,081,257 shares during the last quarter. Kennedy Capital Management LLC lifted its position in Aldeyra Therapeutics by 12.9% in the fourth quarter. Kennedy Capital Management LLC now owns 1,255,838 shares of the biotechnology company’s stock valued at $6,505,000 after buying an additional 143,625 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Aldeyra Therapeutics by 0.8% during the second quarter. Geode Capital Management LLC now owns 1,146,597 shares of the biotechnology company’s stock worth $4,392,000 after buying an additional 8,769 shares during the period. 59.71% of the stock is currently owned by institutional investors and hedge funds.

Aldeyra Therapeutics Company Profile

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.