Aldeyra Therapeutics, Inc (NASDAQ:ALDX) Short Interest Up 13.3% in October

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

Analysts Set New Price Targets

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

Aldeyra Therapeutics Stock Performance

Shares of Aldeyra Therapeutics stock opened at $5.34 on Thursday. The firm has a market cap of $317.27 million, a P/E ratio of -10.63 and a beta of 1.44. The firm’s 50-day simple moving average is $5.60 and its 200-day simple moving average is $4.50. Aldeyra Therapeutics has a twelve month low of $1.53 and a twelve month high of $6.55.

Institutional Investors Weigh In On Aldeyra Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC boosted its stake in shares of Aldeyra Therapeutics by 7.9% in the 2nd quarter. Perceptive Advisors LLC now owns 9,275,851 shares of the biotechnology company’s stock valued at $30,703,000 after purchasing an additional 682,265 shares in the last quarter. Federated Hermes Inc. bought a new position in Aldeyra Therapeutics during the 2nd quarter valued at about $1,758,000. PFG Investments LLC acquired a new position in Aldeyra Therapeutics in the second quarter valued at about $1,312,000. Acadian Asset Management LLC grew its stake 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 last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of 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 in the last quarter. 59.71% of the stock is owned by institutional investors and hedge funds.

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-?B, inflammasomes, and Scavenger Receptor A.