Alyeska Investment Group L.P. Increases Stake in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Alyeska Investment Group L.P. grew its position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) by 86.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 933,475 shares of the company's stock after buying an additional 433,475 shares during the period. Alyeska Investment Group L.P. owned approximately 1.56% of Eledon Pharmaceuticals worth $3,846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings in shares of Eledon Pharmaceuticals by 418.5% during 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 during the last quarter. Alpine Global Management LLC bought a new position in Eledon Pharmaceuticals during the fourth quarter valued at approximately $56,000. ADAR1 Capital Management LLC purchased a new stake in Eledon Pharmaceuticals in the fourth quarter worth approximately $66,000. Virtu Financial LLC bought a new stake in Eledon Pharmaceuticals in the 4th quarter worth approximately $82,000. Finally, Kera Capital Partners Inc. purchased a new stake in Eledon Pharmaceuticals during the 4th quarter valued at $106,000. Institutional investors own 56.77% of the company's stock.

Analyst Upgrades and Downgrades

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

Eledon Pharmaceuticals Trading Down 6.3 %

ELDN opened at $3.10 on Tuesday. Eledon Pharmaceuticals, Inc. has a 1-year low of $2.00 and a 1-year high of $5.54. The firm's 50 day simple moving average is $3.35 and its two-hundred day simple moving average is $3.99. The company has a market capitalization of $185.63 million, a PE ratio of -1.54 and a beta of 0.08.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last announced its earnings results on Thursday, March 20th. The company reported ($0.64) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.32). During the same period in the prior year, the company earned ($1.00) earnings per share. Equities analysts forecast that Eledon Pharmaceuticals, Inc. will post -0.81 earnings per share 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).

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