Denali Advisors LLC Makes New Investment in Aldeyra Therapeutics, Inc (NASDAQ:ALDX)

Denali Advisors LLC purchased a new position in Aldeyra Therapeutics, Inc (NASDAQ:ALDX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 47,300 shares of the biotechnology company’s stock, valued at approximately $155,000. Denali Advisors LLC owned 0.08% of Aldeyra Therapeutics at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Prime Capital Investment Advisors LLC bought a new position in shares of Aldeyra Therapeutics in the fourth quarter worth approximately $35,000. SG Americas Securities LLC purchased a new position in shares of Aldeyra Therapeutics in the fourth quarter worth $39,000. NorthRock Partners LLC purchased a new position in shares of Aldeyra Therapeutics in the fourth quarter worth $42,000. Kingswood Wealth Advisors LLC purchased a new position in shares of Aldeyra Therapeutics in the first quarter worth $49,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Aldeyra Therapeutics by 1,064.8% in the fourth 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. 59.71% of the stock is currently owned by institutional investors.

Aldeyra Therapeutics Price Performance

Aldeyra Therapeutics stock traded down $0.05 during mid-day trading on Wednesday, reaching $3.20. 164,575 shares of the company’s stock traded hands, compared to its average volume of 497,284. The stock has a 50 day moving average of $3.82 and a two-hundred day moving average of $3.59. Aldeyra Therapeutics, Inc has a 12-month low of $1.42 and a 12-month high of $8.38.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). Sell-side analysts forecast that Aldeyra Therapeutics, Inc will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at Aldeyra Therapeutics

In other news, major shareholder Perceptive Advisors Llc acquired 37,712 shares of the business’s stock in a transaction on Friday, April 5th. The shares were acquired at an average price of $4.74 per share, for a total transaction of $178,754.88. Following the completion of the transaction, the insider now directly owns 9,275,851 shares of the company’s stock, valued at approximately $43,967,533.74. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ALDX shares. Oppenheimer reissued an “outperform” rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a report on Monday, May 6th. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Aldeyra Therapeutics in a report on Monday, May 6th. Finally, StockNews.com downgraded shares of Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd.

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.