First Republic Investment Management Inc. Makes New Investment in Aldeyra Therapeutics, Inc (NASDAQ:ALDX)

Posted by Defense World Staff on Oct 23rd, 2023

First Republic Investment Management Inc. acquired a new position in shares of Aldeyra Therapeutics, Inc (NASDAQ:ALDX – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,111 shares of the biotechnology company’s stock, valued at approximately $840,000. First Republic Investment Management Inc. owned approximately 0.17% of Aldeyra Therapeutics at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vontobel Holding Ltd. increased its stake in shares of Aldeyra Therapeutics by 177.0% in the second quarter. Vontobel Holding Ltd. now owns 37,202 shares of the biotechnology company’s stock valued at $312,000 after buying an additional 23,770 shares in the last quarter. Eagle Asset Management Inc. increased its position in Aldeyra Therapeutics by 4.1% in the first quarter. Eagle Asset Management Inc. now owns 1,844,010 shares of the biotechnology company’s stock worth $18,311,000 after purchasing an additional 72,321 shares during the period. Joseph P. Lucia & Associates LLC increased its position in Aldeyra Therapeutics by 120.3% in the first quarter. Joseph P. Lucia & Associates LLC now owns 26,437 shares of the biotechnology company’s stock worth $263,000 after purchasing an additional 14,437 shares during the period. Mirabella Financial Services LLP increased its position in Aldeyra Therapeutics by 55.9% in the first quarter. Mirabella Financial Services LLP now owns 32,510 shares of the biotechnology company’s stock worth $323,000 after purchasing an additional 11,652 shares during the period. Finally, Raymond James & Associates increased its position in Aldeyra Therapeutics by 93.0% in the second quarter. Raymond James & Associates now owns 51,812 shares of the biotechnology company’s stock worth $435,000 after purchasing an additional 24,970 shares during the period. 66.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALDX. HC Wainwright reiterated a “buy” rating and issued a $15.00 price objective on shares of Aldeyra Therapeutics in a research report on Friday, June 30th. StockNews.com started coverage on Aldeyra Therapeutics in a report on Thursday, October 5th. They set a “sell” rating on the stock. Oppenheimer cut Aldeyra Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 17th. Finally, Citigroup cut their price objective on Aldeyra Therapeutics from $25.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, October 17th.

Check Out Our Latest Stock Report on ALDX

Insider Buying and Selling at Aldeyra Therapeutics

In other Aldeyra Therapeutics news, major shareholder Perceptive Advisors Llc sold 306,499 shares of the business’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $1.74, for a total value of $533,308.26. Following the sale, the insider now owns 8,593,586 shares in the company, valued at approximately $14,952,839.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 7.30% of the company’s stock.

Aldeyra Therapeutics Trading Down 0.6 %

NASDAQ:ALDX opened at $1.65 on Monday. Aldeyra Therapeutics, Inc has a fifty-two week low of $1.42 and a fifty-two week high of $11.97. The company has a debt-to-equity ratio of 0.08, a current ratio of 9.96 and a quick ratio of 9.96. The stock has a market capitalization of $96.68 million, a PE ratio of -1.85 and a beta of 1.10. The business’s 50-day simple moving average is $6.26 and its 200-day simple moving average is $8.17.

Aldeyra Therapeutics (NASDAQ:ALDX – Get Free Report) last released its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.16. Sell-side analysts expect that Aldeyra Therapeutics, Inc will post -1.1 earnings per share for the current fiscal year.

Aldeyra Therapeutics Profile

(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.