HC Wainwright Reaffirms Buy Rating for Aldeyra Therapeutics (NASDAQ:ALDX)

HC Wainwright reissued their buy rating on shares of Aldeyra Therapeutics (NASDAQ:ALDX) in a research note issued to investors on Friday, Benzinga reports. HC Wainwright currently has a $10.00 price objective on the biotechnology company’s stock.

Several other research firms have also issued reports on ALDX. StockNews.com lowered shares of Aldeyra Therapeutics from a hold rating to a sell rating in a research report 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.

Aldeyra Therapeutics Stock Up 21.7 %

ALDX stock traded up $0.91 during mid-day trading on Friday, reaching $5.10. 2,333,130 shares of the stock traded hands, compared to its average volume of 504,526. The firm has a market capitalization of $303.01 million, a PE ratio of -10.00 and a beta of 1.45. The business has a 50-day moving average of $3.71 and a two-hundred day moving average of $3.67. Aldeyra Therapeutics has a 52 week low of $1.42 and a 52 week high of $7.88.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Prime Capital Investment Advisors LLC bought a new stake in Aldeyra Therapeutics during the fourth quarter worth about $35,000. SG Americas Securities LLC acquired a new position in shares of Aldeyra Therapeutics in the 4th quarter worth approximately $39,000. NorthRock Partners LLC acquired a new position in shares of Aldeyra Therapeutics in the 4th quarter worth approximately $42,000. Diversified Trust Co acquired a new stake in Aldeyra Therapeutics during the 2nd quarter valued at $41,000. Finally, Kingswood Wealth Advisors LLC bought a new position in Aldeyra Therapeutics in the 1st quarter valued at $49,000. 59.71% of the stock is currently owned by institutional investors and hedge funds.

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.