Aldeyra Therapeutics, Inc (NASDAQ:ALDX) Sees Large Increase in Short Interest
Aldeyra Therapeutics, Inc (NASDAQ:ALDX) experienced a 14.1% increase in short interest, reaching 2,920,000 shares by August 15, up from 2,560,000 shares on July 31. Currently, 5.1% of its shares are sold short, with a days-to-cover ratio of 6.4 days. The stock has a market cap of $93 million and is trading at $0.76 with a 12-month high of $0.79. Analysts maintain varied ratings on the stock, with some lowering their forecasts and others maintaining 'buy' recommendations. Institutional investors own 59.71% of the company.
Aldeyra Therapeutics, Inc (NASDAQ:ALDX - Get Free Report) was the recipient of a significant increase in short interest in August. As of August 15th, there was short interest totalling 2,920,000 shares, an increase of 14.1% from the July 31st total of 2,560,000 shares. Approximately 5.1% of the company's stock are sold short. Based on an average trading volume of 453,900 shares, the days-to-cover ratio is currently 6.4 days.
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Aldeyra Therapeutics Stock Up 7.1 %
Shares of ALDX stock opened at $5.76 on Friday. Aldeyra Therapeutics has a 12 month low of $1.42 and a 12 month high of $7.79. The company has a market cap of $341.93 million, a PE ratio of -11.28 and a beta of 1.45. The business's 50 day moving average is $4.14 and its two-hundred day moving average is $3.88.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the stock. StockNews.com lowered shares of Aldeyra Therapeutics from a "hold" rating to a "sell" rating in a research note on Wednesday, May 22nd. Oppenheimer reissued an "outperform" rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a research report on Monday, May 6th. Finally, HC Wainwright restated a "buy" rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a report on Friday, August 9th.
Check Out Our Latest Research Report on Aldeyra Therapeutics
Hedge Funds Weigh In On Aldeyra Therapeutics
Several large investors have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Aldeyra Therapeutics in the 2nd quarter valued at approximately $38,000. Diversified Trust Co bought a new stake in shares of Aldeyra Therapeutics in the second quarter valued at approximately $41,000. NorthRock Partners LLC acquired a new stake in shares of Aldeyra Therapeutics in the fourth quarter worth $42,000. Kingswood Wealth Advisors LLC bought a new position in Aldeyra Therapeutics during the first quarter worth $49,000. Finally, Laidlaw Wealth Management LLC raised its stake in Aldeyra Therapeutics by 32.6% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 16,875 shares of the biotechnology company's stock valued at $56,000 after purchasing an additional 4,150 shares during the last quarter. Institutional investors and hedge funds own 59.71% of the company's stock.
Aldeyra Therapeutics Company Profile
(Get Free Report)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.
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