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

Acuta Capital Partners LLC bought a new stake in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 235,750 shares of the company's stock, valued at approximately $971,000. Eledon Pharmaceuticals makes up approximately 1.0% of Acuta Capital Partners LLC's holdings, making the stock its 27th largest holding. Acuta Capital Partners LLC owned 0.39% of Eledon Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Tower Research Capital LLC TRC raised its stake in shares of 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 acquiring an additional 6,412 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Eledon Pharmaceuticals by 8.3% in the fourth quarter. Renaissance Technologies LLC now owns 147,173 shares of the company's stock valued at $606,000 after purchasing an additional 11,300 shares during the period. Alpine Global Management LLC acquired a new stake in shares of Eledon Pharmaceuticals in the fourth quarter worth $56,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Eledon Pharmaceuticals by 100.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,987 shares of the company's stock worth $124,000 after buying an additional 15,000 shares during the period. Finally, Schonfeld Strategic Advisors LLC grew its stake in Eledon Pharmaceuticals by 1.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,515,750 shares of the company's stock valued at $6,245,000 after buying an additional 15,750 shares during the last quarter. Institutional investors and hedge funds own 56.77% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Guggenheim began coverage on Eledon Pharmaceuticals in a research report on Tuesday, January 28th. They issued a "buy" rating and a $9.00 price objective for the company.

Eledon Pharmaceuticals Stock Performance

Shares of ELDN traded up $0.01 during trading hours on Wednesday, reaching $2.88. 80,042 shares of the company traded hands, compared to its average volume of 284,272. The stock's fifty day moving average is $3.32 and its 200 day moving average is $3.98. Eledon Pharmaceuticals, Inc. has a 1-year low of $2.00 and a 1-year high of $5.54. The stock has a market cap of $172.16 million, a P/E ratio of -1.43 and a beta of 0.08.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last posted its quarterly 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 previous year, the business earned ($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 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).