Ironwood Investment Management LLC purchased a new position in Aldeyra Therapeutics, Inc (NASDAQ:ALDX) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,836 shares of the biotechnology company’s stock, valued at approximately $116,000.
Several other hedge funds have also bought and sold shares of ALDX. BNP Paribas Arbitrage SA purchased a new stake in Aldeyra Therapeutics during the first quarter valued at $40,000. Meeder Asset Management Inc. grew its holdings in Aldeyra Therapeutics by 118.6% during the fourth quarter. Meeder Asset Management Inc. now owns 8,888 shares of the biotechnology company’s stock valued at $74,000 after purchasing an additional 4,822 shares during the period. Bank of America Corp DE grew its holdings in Aldeyra Therapeutics by 139.4% during the fourth quarter. Bank of America Corp DE now owns 12,181 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 7,093 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in Aldeyra Therapeutics during the fourth quarter valued at about $104,000. Finally, American International Group Inc. grew its holdings in Aldeyra Therapeutics by 23.4% during the fourth quarter. American International Group Inc. now owns 13,909 shares of the biotechnology company’s stock valued at $115,000 after purchasing an additional 2,641 shares during the period. Hedge funds and other institutional investors own 58.28% of the company’s stock.
Several analysts have issued reports on the company. Canaccord Genuity reissued a “buy” rating and set a $20.00 price target (down previously from $35.00) on shares of Aldeyra Therapeutics in a report on Friday, May 10th. Zacks Investment Research lowered Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, May 8th. ValuEngine lowered Aldeyra Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 1st. Citigroup upped their price objective on Aldeyra Therapeutics from $32.00 to $38.00 and gave the stock a “positive” rating in a research note on Tuesday, March 26th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $35.00 price objective (up previously from $30.00) on shares of Aldeyra Therapeutics in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $31.40.
NASDAQ ALDX opened at $7.13 on Friday. The stock has a market capitalization of $196.01 million, a PE ratio of -3.98 and a beta of 0.71. Aldeyra Therapeutics, Inc has a twelve month low of $6.75 and a twelve month high of $16.70.
Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings data on Thursday, May 9th. The biotechnology company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.02. On average, research analysts forecast that Aldeyra Therapeutics, Inc will post -2.15 EPS for the current year.
In other news, Director Jesse I. Treu sold 96,743 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $10.01, for a total value of $968,397.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.99% of the company’s stock.
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About Aldeyra Therapeutics
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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