Aldeyra Therapeutics, Inc (NASDAQ:ALDX) Short Interest Update

Aldeyra Therapeutics, Inc (NASDAQ:ALDX) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 3,400,000 shares, a growth of 13.3% from the September 30th total of 3,000,000 shares. Approximately 5.9% of the company’s stock are short sold. Based on an average trading volume of 532,600 shares, the short-interest ratio is currently 6.4 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ALDX. Perceptive Advisors LLC increased its position in Aldeyra Therapeutics by 7.9% during the second quarter. Perceptive Advisors LLC now owns 9,275,851 shares of the biotechnology company’s stock worth $30,703,000 after buying an additional 682,265 shares during the period. Federated Hermes Inc. acquired a new position in Aldeyra Therapeutics during the second quarter worth approximately $1,758,000. PFG Investments LLC acquired a new position in Aldeyra Therapeutics during the second quarter worth approximately $1,312,000. Acadian Asset Management LLC increased its position in Aldeyra Therapeutics by 106.3% during the first quarter. Acadian Asset Management LLC now owns 452,449 shares of the biotechnology company’s stock worth $1,478,000 after buying an additional 233,169 shares during the period. Finally, International Assets Investment Management LLC increased its position in Aldeyra Therapeutics by 397.0% during the third quarter. International Assets Investment Management LLC now owns 287,287 shares of the biotechnology company’s stock worth $15,480,000 after buying an additional 229,487 shares during the period. Institutional investors and hedge funds own 59.71% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $10.00 target price on shares of Aldeyra Therapeutics in a research report on Friday, August 9th.

Aldeyra Therapeutics Stock Performance

Shares of NASDAQ ALDX opened at $5.42 on Wednesday. The firm has a market capitalization of $322.02 million, a PE ratio of -10.96 and a beta of 1.44. Aldeyra Therapeutics has a fifty-two week low of $1.47 and a fifty-two week high of $6.55. The stock’s 50-day simple moving average is $5.60 and its 200-day simple moving average is $4.50.

About Aldeyra Therapeutics

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.