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In a recent filing with the Securities and Exchange Commission, Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) disclosed that a major shareholder, Perceptive Advisors LLC, sold 3.4 million shares of the company’s common stock. The shares were sold at an average price of $1.42, totaling approximately $4.83 million.
The transactions occurred on April 3, 2025, and were conducted by Perceptive Life Sciences Master Fund Ltd., an entity managed by Perceptive Advisors. Following the sale, the fund retains ownership of 5,875,851 shares in Aldeyra Therapeutics. With a market capitalization of $113.45 million, analysts maintain a strong buy consensus with price targets ranging from $6 to $11 per share. Discover more valuable insights with InvestingPro, which offers 12 additional investment tips for ALDX.
The sale was executed at prices ranging from $1.18 to $1.78 per share, reflecting a weighted average price of $1.42. Perceptive Advisors, led by Joseph Edelman, continues to be a significant stakeholder in the pharmaceutical company despite the recent reduction in its holdings. The company maintains a strong financial position with a current ratio of 5.59, indicating ample liquidity to meet short-term obligations.
In other recent news, Aldeyra Therapeutics has faced a series of developments concerning its drug candidate, Reproxalap, intended for treating dry eye disease (DED). The company recently received a Complete Response Letter (CRL) from the FDA, indicating that their New Drug Application (NDA) for Reproxalap could not be approved in its current form due to concerns over trial data and baseline score disparities. Despite this setback, Aldeyra is conducting two additional clinical trials, with results expected in the second quarter of 2025, and plans to resubmit the NDA by mid-2025. Analysts from BTIG, Jefferies, and H.C. Wainwright have maintained a Buy rating on Aldeyra's stock, though BTIG and Jefferies have lowered their price targets to $9 and $6, respectively, reflecting the recent regulatory challenges.
Laidlaw also reiterated a Buy rating with an $11 price target, expressing confidence in the upcoming trial results and highlighting the recent option deal with AbbVie (NYSE:ABBV) as a positive factor. The FDA's concerns largely focus on methodological issues, but Aldeyra remains optimistic about Reproxalap's potential, with CEO Todd C. Brady emphasizing its unique position in the market. The company's financial standing appears stable, with $101 million in cash and marketable securities reported as of the end of 2024. Investors and stakeholders will be closely watching the results of the ongoing trials and subsequent discussions with the FDA, which are crucial for Aldeyra's efforts to bring Reproxalap to market.
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