Letko Brosseau & Associates Inc. Invests $86,000 in Aldeyra Therapeutics, Inc (NASDAQ:ALDX)

Letko Brosseau & Associates Inc. purchased a new position in shares of Aldeyra Therapeutics, Inc (NASDAQ:ALDX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,300 shares of the biotechnology company’s stock, valued at approximately $86,000.

Other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in shares of Aldeyra Therapeutics during the fourth quarter worth $52,000. Balyasny Asset Management L.P. acquired a new stake in Aldeyra Therapeutics in the fourth quarter valued at $56,000. Catalyst Funds Management Pty Ltd increased its holdings in Aldeyra Therapeutics by 2,083.3% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 13,100 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 12,500 shares during the period. Regal Investment Advisors LLC acquired a new stake in Aldeyra Therapeutics in the fourth quarter valued at $66,000. Finally, Walleye Capital LLC acquired a new stake in Aldeyra Therapeutics in the fourth quarter valued at $68,000. 59.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. BTIG Research cut their price target on shares of Aldeyra Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. HC Wainwright reaffirmed a “buy” rating and set a $10.00 price target on shares of Aldeyra Therapeutics in a research report on Friday, April 4th.

Insider Buying and Selling

In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the firm’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $1.42, for a total value of $4,828,000.00. Following the completion of the transaction, the insider now directly owns 5,875,851 shares of the company’s stock, valued at $8,343,708.42. This trade represents a 36.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.60% of the stock is owned by insiders.

Aldeyra Therapeutics Trading Up 0.9%

Shares of ALDX stock opened at $2.18 on Monday. The company has a 50 day moving average of $3.99 and a 200-day moving average of $4.84. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.18. Aldeyra Therapeutics, Inc has a 12-month low of $1.14 and a 12-month high of $7.20. The firm has a market cap of $130.57 million, a P/E ratio of -2.32 and a beta of 0.92.

Aldeyra Therapeutics (NASDAQ:ALDX) last issued its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.30). Sell-side analysts anticipate that Aldeyra Therapeutics, Inc will post -0.92 earnings per share for the current year.

Aldeyra Therapeutics 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.