Chart Of The Day: Aldeyra - Skyrocketing

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Photo by Chris Liverani on Unsplash
 

The Chart of the Day belongs to the biotechnology company Aldeyra Therapeutics (ALDX). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation.  Since the Trend Seeker signaled a buy on 3/16 the stock gained 51.92%.

(Click on image to enlarge)

ALDX Price vs Daily Moving Averages

Aldeyra Therapeutics, Inc., a biotechnology company, develops and commercializes medicines for immune-mediated diseases. Its lead product candidate is reproxalap, a reactive aldehyde species (RASP)modulator, which is in Phase III clinical trial for the treatment of dry eye diseases. The company also develops ADX-629, an orally administered RASP modulator for the treatment of COVID-19, atopic asthma, psoriasis, and alcohol intoxication; and ADX-2191, a dihydrofolate reductase inhibitor for the treatment of primary vitreoretinal lymphoma cancer, proliferative vitreoretinopathy, and retinitis pigmentosa, as well as rare retinal diseases characterized by inflammation and vision loss. In addition, it develops ADX-246 in systemic immune-mediated disease; and ADX-248 in geographic atrophy. The company was formerly known as Aldexa Therapeutics, Inc. and changed its name to Aldeyra Therapeutics, Inc. in March 2014. Aldeyra Therapeutics, Inc. was incorporated in 2004 and is based in Lexington, Massachusetts.

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
 

Barchart Technical Indicators:

  • 100% technical buy signals
  • 142.13+Weighted Alpha
  • 118.39% gain in the last year
  • Trend Seeker buy signal
  • Above its 20, 50, and 100-day moving averages
  • 12 new highs and up 43.87% in the last month
  • Relative Strength Index 75.31%
  • Recently traded at $10.33 with a 50-day moving average of $7.57
     

Fundamental Factors:

  • Market Cap $597 million
  • Revenue is expected to grow 2,045.80% next year
  • Earnings are estimated to increase 16.90% next year and continue to compound at an annual rate of  73.70% for the next 5 years

Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

  • Wall Street analysts issued 5 strong buy, and 3 buy opinions on the stock
  • Their price targets are $13.00 to $30.00 with a consensus of $21.83 for about another 111.00% gain
  • The individual investors following the stock on Motley Fool voted 17 to 3 for the stock to beat the market with the more experienced investors voting a split 3 to 3
  • Value Line gives it their highest rating of 1
  • CFRAs MarketScope has a hold rating
  • 5,870 investors monitor the stock on Seeking Alpha

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Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the ...

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