Aldeyra Therapeutics Inc. (NASDAQ: ALDX) stock jumped 0.61% on Tuesday to $9.82 against a previous-day closing price of $9.76. With 0.57 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.87 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $9.99 whereas the lowest price it dropped to was $9.70. The 52-week range on ALDX shows that it touched its highest point at $10.89 and its lowest point at $2.64 during that stretch. It currently has a 1-year price target of $20.50. Beta for the stock currently stands at 1.12.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ALDX was down-trending over the past week, with a drop of -2.00%, but this was up by 3.92% over a month. Three-month performance surged to 41.50% while six-month performance rose 89.21%. The stock gained 244.56% in the past year, while it has gained 41.09% so far this year. A look at the trailing 12-month EPS for ALDX yields -1.04 with Next year EPS estimates of -1.06. For the next quarter, that number is -0.31. This implies an EPS growth rate of 0.70% for this year and 24.80% for next year.
Float and Shares Shorts:
At present, 58.79 million ALDX shares are outstanding with a float of 45.83 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.45 million, which was 4.18% higher than short shares on Mar 30, 2023. In addition to Dr. Todd C. Brady M.D., Ph.D. as the firm’s CEO, Pres & Director, Mr. Bruce Greenberg CPA, M.B.A. serves as its VP of Fin., Interim CFO & Treasurer.
Institutional Ownership:
Through their ownership of 60.08% of ALDX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.91% of ALDX, in contrast to 30.08% held by mutual funds. Shares owned by individuals account for 12.80%. As the largest shareholder in ALDX with 19.38% of the stake, Perceptive Advisors LLC holds 11,350,085 shares worth 11,350,085. A second-largest stockholder of ALDX, The Vanguard Group, Inc., holds 2,474,582 shares, controlling over 4.22% of the firm’s shares. Knoll Capital Management LP is the third largest shareholder in ALDX, holding 1,948,090 shares or 3.33% stake. With a 2.87% stake in ALDX, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 1,678,186 shares are owned by the mutual fund manager. The Fidelity Select Port. – Biotechno, which owns about 1.34% of ALDX stock, is the second-largest Mutual Fund holder. It holds 784,037 shares valued at 7.47 million. Vanguard Extended Market Index Fu holds 1.23% of the stake in ALDX, owning 719,888 shares worth 6.86 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, ALDX reported revenue of $0.00 and operating income of -$17.71M. The EBITDA in the recently reported quarter was -$17.31M and diluted EPS was -$0.30.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ALDX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ALDX analysts setting a high price target of $30.00 and a low target of $13.00, the average target price over the next 12 months is $20.50. Based on these targets, ALDX could surge 205.5% to reach the target high and rise by 32.38% to reach the target low. Reaching the average price target will result in a growth of 108.76% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ALDX stock several times over the past three months with 1 Buys and 0 Sells. In these transactions, 238,750 shares were bought while 0 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 2,018,671 while 0 shares were sold.
