Insider Selling: Aldeyra Therapeutics, Inc (NASDAQ:ALDX) Major Shareholder Sells 3,400,000 Shares of Stock

Aldeyra Therapeutics, Inc (NASDAQ:ALDX) major shareholder Perceptive Advisors Llc sold 3,400,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $1.42, for a total transaction of $4,828,000.00. Following the sale, the insider now owns 5,875,851 shares of the company’s stock, valued at approximately $8,343,708.42. This represents a 36.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Aldeyra Therapeutics Trading Up 3.2 %

ALDX traded up $0.06 during trading on Monday, hitting $1.95. The company’s stock had a trading volume of 4,622,390 shares, compared to its average volume of 653,824. The business’s 50 day simple moving average is $6.00 and its 200-day simple moving average is $5.44. Aldeyra Therapeutics, Inc has a one year low of $1.14 and a one year high of $7.20. 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 (NASDAQ:ALDX) last posted its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.30). On average, analysts predict that Aldeyra Therapeutics, Inc will post -0.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALDX. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Aldeyra Therapeutics in a report on Friday. BTIG Research dropped their target price on Aldeyra Therapeutics from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Monday.

Institutional Trading of Aldeyra Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of Aldeyra Therapeutics during the 4th quarter valued at approximately $3,628,000. ADAR1 Capital Management LLC lifted its holdings in Aldeyra Therapeutics by 114.4% during the fourth quarter. ADAR1 Capital Management LLC now owns 647,960 shares of the biotechnology company’s stock valued at $3,233,000 after purchasing an additional 345,748 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Aldeyra Therapeutics by 163.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 476,949 shares of the biotechnology company’s stock valued at $2,571,000 after purchasing an additional 295,864 shares in the last quarter. 683 Capital Management LLC bought a new position in shares of Aldeyra Therapeutics in the fourth quarter worth approximately $1,447,000. Finally, Millennium Management LLC purchased a new stake in shares of Aldeyra Therapeutics in the fourth quarter worth $808,000. Hedge funds and other institutional investors own 59.71% of the company’s stock.

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.