Stock Traders Purchase Large Volume of Aldeyra Therapeutics Put Options (ALDX)

Aldeyra Therapeutics, Inc (NASDAQ:ALDX) saw unusually large options trading on Wednesday. Stock traders bought 1,453 put options on the stock. This represents an increase of 2,642% compared to the average daily volume of 53 put options.

Several research firms recently commented on ALDX. Cantor Fitzgerald reiterated a “buy” rating and issued a $23.00 price objective on shares of Aldeyra Therapeutics in a report on Tuesday, June 26th. Canaccord Genuity boosted their price target on Aldeyra Therapeutics from $27.00 to $35.00 and gave the company a “positive” rating in a research note on Wednesday. ValuEngine upgraded Aldeyra Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 5th. Zacks Investment Research downgraded Aldeyra Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. Finally, Janney Montgomery Scott boosted their price target on Aldeyra Therapeutics to $28.00 and gave the company a “positive” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $24.92.

ALDX stock opened at $14.35 on Friday. Aldeyra Therapeutics has a twelve month low of $5.55 and a twelve month high of $16.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.11 and a current ratio of 8.11. The stock has a market cap of $207.65 million, a PE ratio of -9.61 and a beta of 0.55.

Aldeyra Therapeutics (NASDAQ:ALDX) last posted its quarterly earnings data on Thursday, August 9th. The biotechnology company reported ($0.46) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.03). equities analysts forecast that Aldeyra Therapeutics will post -1.78 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers purchased a new position in shares of Aldeyra Therapeutics during the 2nd quarter valued at about $113,000. Element Capital Management LLC purchased a new position in shares of Aldeyra Therapeutics during the 1st quarter valued at about $123,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Aldeyra Therapeutics during the 2nd quarter valued at about $237,000. Essex Investment Management Co. LLC purchased a new position in shares of Aldeyra Therapeutics during the 2nd quarter valued at about $312,000. Finally, Mesirow Financial Investment Management Inc. purchased a new position in shares of Aldeyra Therapeutics during the 2nd quarter valued at about $327,000. 57.83% of the stock is currently owned by hedge funds and other institutional investors.

About Aldeyra Therapeutics

Aldeyra Therapeutics, Inc, a biotechnology company, focuses on the development of products for inflammation, inborn errors of metabolism, and other diseases in the United States and internationally. It is developing ADX-102, a small molecule designed to trap and allow for the degradation of aldehydes, as well as ADX-103 and ADX-104 novel candidates for the treatment of noninfectious anterior uveitis, allergic conjunctivitis, dry eye syndrome, sjögren-larsson syndrome, and succinic semi-aldehyde dehydrogenase deficiency.

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