683 Capital Management LLC Purchases Shares of 154,960 Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

683 Capital Management LLC acquired a new position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 154,960 shares of the company's stock, valued at approximately $638,000. 683 Capital Management LLC owned about 0.26% of Eledon Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of Eledon Pharmaceuticals by 418.5% in the fourth 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 during the period. Alpine Global Management LLC purchased a new position in shares of Eledon Pharmaceuticals during the fourth quarter valued at approximately $56,000. ADAR1 Capital Management LLC bought a new position in shares of Eledon Pharmaceuticals during the fourth quarter valued at approximately $66,000. Virtu Financial LLC purchased a new stake in Eledon Pharmaceuticals in the fourth quarter worth $82,000. Finally, Kera Capital Partners Inc. bought a new stake in Eledon Pharmaceuticals in the fourth quarter valued at $106,000. Hedge funds and other institutional investors own 56.77% of the company's stock.

Analyst Ratings Changes

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

Eledon Pharmaceuticals Stock Up 0.6 %

Shares of NASDAQ:ELDN traded up $0.02 during trading on Wednesday, hitting $2.89. The stock had a trading volume of 89,346 shares, compared to its average volume of 284,459. The company has a market capitalization of $172.94 million, a PE ratio of -1.44 and a beta of 0.08. The firm's fifty day moving average is $3.32 and its 200 day moving average is $3.98. Eledon Pharmaceuticals, Inc. has a 12 month low of $2.00 and a 12 month high of $5.54.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last announced its quarterly earnings data 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 last year, the firm earned ($1.00) earnings per share. Equities research analysts expect that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current fiscal year.

About Eledon Pharmaceuticals

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).