Short Interest in Aldeyra Therapeutics, Inc (NASDAQ:ALDX) Grows By 7.9%

Aldeyra Therapeutics, Inc (NASDAQ:ALDX) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 3,670,000 shares, an increase of 7.9% from the October 15th total of 3,400,000 shares. Currently, 6.4% of the shares of the company are sold short. Based on an average trading volume of 443,400 shares, the short-interest ratio is currently 8.3 days.

Hedge Funds Weigh In On Aldeyra Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in Aldeyra Therapeutics by 106.3% during the first quarter. Acadian Asset Management LLC now owns 452,449 shares of the biotechnology company’s stock valued at $1,478,000 after purchasing an additional 233,169 shares during the period. Diversified Trust Co bought a new position in Aldeyra Therapeutics during the second quarter valued at $41,000. Jacobs Levy Equity Management Inc. bought a new position in Aldeyra Therapeutics during the first quarter valued at $585,000. Federated Hermes Inc. bought a new position in Aldeyra Therapeutics during the second quarter valued at $1,758,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Aldeyra Therapeutics by 7.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 48,273 shares of the biotechnology company’s stock worth $158,000 after acquiring an additional 3,446 shares in the last quarter. 59.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a report on Friday, August 9th.

Aldeyra Therapeutics Price Performance

ALDX stock opened at $4.70 on Tuesday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average of $5.45 and a 200-day moving average of $4.60. Aldeyra Therapeutics has a 12-month low of $2.43 and a 12-month high of $6.55.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its earnings results on Thursday, November 7th. The biotechnology company reported ($0.25) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.25). On average, sell-side analysts predict that Aldeyra Therapeutics will post -0.89 earnings per share for the current fiscal year.

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.