Allostery Investments LP Takes $412,000 Position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Allostery Investments LP acquired a new stake in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 100,000 shares of the company's stock, valued at approximately $412,000. Allostery Investments LP owned about 0.17% of Eledon Pharmaceuticals at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tower Research Capital LLC TRC boosted its holdings in Eledon Pharmaceuticals by 418.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,944 shares of the company's stock worth $33,000 after buying an additional 6,412 shares in the last quarter. Alpine Global Management LLC acquired a new position in Eledon Pharmaceuticals during the fourth quarter worth $56,000. ADAR1 Capital Management LLC purchased a new stake in Eledon Pharmaceuticals during the fourth quarter worth $66,000. Virtu Financial LLC purchased a new position in shares of Eledon Pharmaceuticals in the fourth quarter valued at $82,000. Finally, Kera Capital Partners Inc. acquired a new position in shares of Eledon Pharmaceuticals during the 4th quarter worth $106,000. 56.77% of the stock is owned by institutional investors and hedge funds.

Eledon Pharmaceuticals Stock Up 1.2 %

Shares of ELDN traded up $0.04 during trading hours on Wednesday, reaching $2.91. 140,695 shares of the company traded hands, compared to its average volume of 284,495. The stock has a fifty day simple moving average of $3.32 and a 200 day simple moving average of $3.98. Eledon Pharmaceuticals, Inc. has a fifty-two week low of $2.00 and a fifty-two week high of $5.54. The stock has a market capitalization of $173.96 million, a PE ratio of -1.45 and a beta of 0.08.

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 period in the previous year, the firm earned ($1.00) EPS. Research analysts predict that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Guggenheim initiated 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 for the company.

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).