Aldeyra Therapeutics, Inc (NASDAQ:ALDX) Short Interest Up 12.0% in March

Aldeyra Therapeutics, Inc (NASDAQ:ALDX) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 2,050,000 shares, an increase of 12.0% from the March 15th total of 1,830,000 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average trading volume of 585,700 shares, the days-to-cover ratio is presently 3.5 days.

Insiders Place Their Bets

In other news, insider Bruce Greenberg sold 13,201 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $3.41, for a total value of $45,015.41. Following the completion of the transaction, the insider now owns 120,699 shares of the company’s stock, valued at approximately $411,583.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, 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 transaction of $45,015.41. Following 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 legal filing with the SEC, which is available at the SEC website. Also, major shareholder Perceptive Advisors Llc bought 37,712 shares of the stock in a transaction dated Friday, April 5th. The shares were bought at an average price of $4.74 per share, for a total transaction of $178,754.88. Following the completion of the acquisition, the insider now owns 9,275,851 shares in the company, valued at $43,967,533.74. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 355,933 shares of company stock valued at $1,473,245. 7.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Aigen Investment Management LP acquired a new position in Aldeyra Therapeutics in the 3rd quarter valued at $80,000. Deutsche Bank AG boosted its position in Aldeyra Therapeutics by 2.2% during the 3rd quarter. Deutsche Bank AG now owns 294,775 shares of the biotechnology company’s stock worth $1,969,000 after purchasing an additional 6,470 shares during the period. Citigroup Inc. boosted its position in Aldeyra Therapeutics by 34.6% during the 3rd quarter. Citigroup Inc. now owns 113,036 shares of the biotechnology company’s stock worth $755,000 after purchasing an additional 29,031 shares during the period. International Assets Investment Management LLC boosted its position in Aldeyra Therapeutics by 319.2% in the 4th quarter. International Assets Investment Management LLC now owns 205,335 shares of the biotechnology company’s stock valued at $7,210,000 after buying an additional 156,353 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC acquired a new stake in Aldeyra Therapeutics during the fourth quarter worth about $35,000. 59.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALDX has been the topic of a number of research reports. Oppenheimer upgraded Aldeyra Therapeutics from a “market perform” rating to an “outperform” rating and set a $10.00 price target on the stock in a research note on Wednesday, April 3rd. StockNews.com raised Aldeyra Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, January 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $10.00 price objective on shares of Aldeyra Therapeutics in a report on Tuesday, April 2nd.

Aldeyra Therapeutics Stock Performance

NASDAQ:ALDX traded down $0.15 during mid-day trading on Tuesday, reaching $4.01. The stock had a trading volume of 153,795 shares, compared to its average volume of 585,878. The business has a 50 day simple moving average of $3.54 and a 200 day simple moving average of $3.29. Aldeyra Therapeutics has a twelve month low of $1.42 and a twelve month high of $11.97. The firm has a market capitalization of $236.19 million, a price-to-earnings ratio of -6.31 and a beta of 1.51.

Aldeyra Therapeutics (NASDAQ:ALDX) last announced its quarterly earnings results on Thursday, March 7th. The biotechnology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.13. As a group, sell-side analysts expect that Aldeyra Therapeutics will post -0.14 earnings per share for the current 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.