235,750 Shares in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Acquired by Acuta Capital Partners LLC

Acuta Capital Partners LLC acquired a new position in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 235,750 shares of the company's stock, valued at approximately $971,000. Eledon Pharmaceuticals accounts for about 1.0% of Acuta Capital Partners LLC's holdings, making the stock its 27th biggest position. Acuta Capital Partners LLC owned 0.39% of Eledon Pharmaceuticals at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in Eledon Pharmaceuticals by 418.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 7,944 shares of the company's stock valued at $33,000 after purchasing an additional 6,412 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of Eledon Pharmaceuticals during the 4th quarter valued at about $56,000. ADAR1 Capital Management LLC purchased a new stake in shares of Eledon Pharmaceuticals during the 4th quarter valued at about $66,000. Virtu Financial LLC acquired a new position in Eledon Pharmaceuticals during the 4th quarter worth approximately $82,000. Finally, Kera Capital Partners Inc. acquired a new stake in Eledon Pharmaceuticals in the fourth quarter valued at approximately $106,000. Institutional investors and hedge funds own 56.77% of the company's stock.

Analysts Set New Price Targets

Separately, Guggenheim assumed coverage on shares of Eledon Pharmaceuticals in a research report on Tuesday, January 28th. They set a "buy" rating and a $9.00 target price on the stock.

Eledon Pharmaceuticals Stock Performance

NASDAQ:ELDN opened at $3.28 on Friday. Eledon Pharmaceuticals, Inc. has a one year low of $2.00 and a one year high of $5.54. The business's 50-day simple moving average is $3.39 and its 200 day simple moving average is $3.97. The stock has a market cap of $196.41 million, a price-to-earnings ratio of -1.63 and a beta of 0.66.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.32). During the same quarter in the prior year, the firm posted ($1.00) earnings per share. On average, equities research analysts predict that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current year.

Eledon Pharmaceuticals Company Profile

Eledon Pharmaceuticals, Inc operates as a clinical stage biotechnology company. The company uses its immunology expertise in targeting the CD40 Ligand (CD40L, also called CD154) pathway to develop therapies to protect transplanted organs and prevent rejection, and to treat amyotrophic lateral sclerosis (ALS).

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