The stock last traded at $6.30 a great deal lower than the 50 day moving average which is $7.25 and quite a bit above the 200 day moving average of $5.23. The 50 day moving average went down $-0.95 or -13.13% and the 200 day average moved up $1.07. (NASDAQ:ALDX) shares saw light trading volume with 98K shares changing hands in the last trading session. Volume was down 67.38% under the stocks average daily volume.
Investors are more bearish on shares of Aldeyra Therapeutics, Inc. lately if you pay attention to the rise in short interest. The company recorded a rise in short interest between September 29, 2017 and October 13, 2017 of 81.28%. Short interest grew 227,476 over that timeframe. With short interest at 507,339 and short average daily volume at 346,902, days to cover is 1.0 and the percentage of shorted shares is 0.03% as of October 13.
These firms have modified their investment in ALDX. Sabby Management, LLC reduced its stake by shedding 81,923 shares a decrease of 45.6% as of 06/30/2017. Sabby Management, LLC currently owns 97,704 shares worth $454,000. The value of the position overall is down by 49.4%. Sphera Funds Management Ltd. expanded its investment by buying 207,431 shares an increase of 31.0%. Sphera Funds Management Ltd. claims 875,931 shares valued at $4,117,000. The total value of its holdings increased 23.2%.
As of the end of the quarter Ubs Group Ag had disposed of 721 shares trimming its holdings by 39.4%. The value of the investment in ALDX decreased from $9,000 to $5,000 a change of $4,000 quarter over quarter. As of quarter end Hikari Power Ltd had bought a total of 70,196 shares growing its position 186.4%. The value of the total investment in Aldeyra Therapeutics, Inc. went from $188,000 to $507,000 increasing 169.7% for the reporting period.
On September 13 Canaccord Genuity held the stock rating at “Buy” and moved up the price target from $16.00 to $27.00. On October 25 analysts at Cantor Fitzgerald began coverage with a rating of “Overweight”.
As of the latest earnings report the EPS was $-1.47 and is estimated to be $-1.47 for the current year with 6,245,000 shares currently outstanding. Next quarter’s EPS is expected be $-0.37 with next year’s EPS anticipated to be $-1.74.
Aldeyra Therapeutics, Inc., formerly Aldexa Therapeutics, Inc., launched on August 13, 2004, is a biotechnology company. The Business’s principal activities include raising capital and research and development activities. The Business’s segment is the identification and development of a treatment for diseases related to high levels of aldehydes. The Company is focused on the development of products for diseases caused by inflammation and inborn errors of metabolism that are caused by naturally occurring toxic and pro-inflammatory chemical species known as aldehydes. The Company has developed a series of aldehyde traps, molecules that are designed to sequester and allow for the degradation of aldehydes..