Aldeyra Therapeutics (NASDAQ:ALDX) Share Price Passes Above 50 Day Moving Average – Should You Sell?

Aldeyra Therapeutics, Inc (NASDAQ:ALDX)’s share price passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $6.01 and traded as high as $6.81. Aldeyra Therapeutics shares last traded at $6.68, with a volume of 797,432 shares.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and set a $10.00 price objective on shares of Aldeyra Therapeutics in a research report on Monday, March 3rd.

Aldeyra Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 6.80 and a quick ratio of 6.80. The stock has a 50 day moving average of $6.01 and a two-hundred day moving average of $5.51.

Aldeyra Therapeutics (NASDAQ:ALDX) last released its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.30). As a group, equities analysts forecast that Aldeyra Therapeutics, Inc will post -0.92 EPS for the current year.

Institutional Trading of Aldeyra Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC purchased a new stake in Aldeyra Therapeutics in the 4th quarter worth about $52,000. Balyasny Asset Management L.P. acquired a new position in shares of Aldeyra Therapeutics in the 4th quarter valued at about $56,000. Paloma Partners Management Co purchased a new stake in shares of Aldeyra Therapeutics in the third quarter worth approximately $62,000. Catalyst Funds Management Pty Ltd grew its position in Aldeyra Therapeutics by 2,083.3% during 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 in the last quarter. Finally, Regal Investment Advisors LLC acquired a new position in Aldeyra Therapeutics in the 4th quarter valued at approximately $66,000. Institutional investors and hedge funds 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.