Aldeyra Therapeutics’ (ALDX) “Outperform” Rating Reiterated at Oppenheimer

Oppenheimer reissued their outperform rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX) in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a $10.00 price objective on the biotechnology company’s stock.

ALDX has been the subject of a number of other research reports. HC Wainwright reaffirmed a buy rating and issued a $10.00 price objective on shares of Aldeyra Therapeutics in a report on Tuesday, April 2nd. StockNews.com upgraded shares of Aldeyra Therapeutics from a sell rating to a hold rating in a research report on Monday, January 29th.

Aldeyra Therapeutics Stock Performance

NASDAQ:ALDX opened at $4.07 on Monday. The company has a market capitalization of $241.81 million, a price-to-earnings ratio of -7.98 and a beta of 1.45. Aldeyra Therapeutics has a one year low of $1.42 and a one year high of $11.97. The stock has a 50-day simple moving average of $3.72 and a 200 day simple moving average of $3.24.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.13. On average, equities research analysts forecast that Aldeyra Therapeutics will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Bruce Greenberg sold 13,201 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $3.41, for a total transaction of $45,015.41. Following the completion of the transaction, the insider now directly owns 120,699 shares in the company, valued at approximately $411,583.59. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc purchased 8,374 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were bought at an average price of $3.25 per share, with a total value of $27,215.50. Following the completion of the acquisition, the insider now owns 8,601,960 shares in the company, valued at approximately $27,956,370. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bruce Greenberg sold 13,201 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $3.41, for a total value of $45,015.41. Following the transaction, the insider now owns 120,699 shares of the company’s stock, valued at $411,583.59. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 355,933 shares of company stock valued at $1,473,245. Insiders own 7.30% of the company’s stock.

Institutional Trading of Aldeyra Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Prime Capital Investment Advisors LLC bought a new position in shares of Aldeyra Therapeutics in the fourth quarter worth $35,000. SG Americas Securities LLC bought a new position in Aldeyra Therapeutics in the 4th quarter valued at about $39,000. NorthRock Partners LLC acquired a new position in Aldeyra Therapeutics during the 4th quarter valued at about $42,000. Kingswood Wealth Advisors LLC acquired a new position in Aldeyra Therapeutics during the 1st quarter valued at about $49,000. Finally, Tower Research Capital LLC TRC raised its position in shares of Aldeyra Therapeutics by 1,064.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 22,167 shares of the biotechnology company’s stock worth $78,000 after buying an additional 20,264 shares in the last quarter. Institutional investors own 59.71% of the company’s stock.

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.