Blue Owl Capital Holdings LP Takes Position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Blue Owl Capital Holdings LP bought a new position in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,959,912 shares of the company's stock, valued at approximately $8,075,000. Eledon Pharmaceuticals comprises about 1.9% of Blue Owl Capital Holdings LP's portfolio, making the stock its 13th biggest holding. Blue Owl Capital Holdings LP owned about 3.28% of Eledon Pharmaceuticals as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Tower Research Capital LLC TRC increased 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 worth $33,000 after acquiring an additional 6,412 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Eledon Pharmaceuticals by 8.3% in the 4th 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 bought a new stake in Eledon Pharmaceuticals in the 4th quarter valued at $56,000. Charles Schwab Investment Management Inc. boosted its stake in Eledon Pharmaceuticals by 100.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,987 shares of the company's stock valued at $124,000 after purchasing an additional 15,000 shares during the period. Finally, ADAR1 Capital Management LLC bought a new stake in Eledon Pharmaceuticals in the 4th quarter valued at $66,000. 56.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Eledon Pharmaceuticals Price Performance

ELDN traded up $0.02 during trading on Tuesday, hitting $3.30. The stock had a trading volume of 20,569 shares, compared to its average volume of 285,113. The company has a 50 day moving average price of $3.45 and a 200-day moving average price of $3.97. The firm has a market cap of $197.31 million, a price-to-earnings ratio of -1.64 and a beta of 0.66. Eledon Pharmaceuticals, Inc. has a one year low of $2.00 and a one year high of $5.54.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last released its earnings results on Thursday, March 20th. The company reported ($0.64) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.32). During the same quarter in the previous year, the company posted ($1.00) earnings per share. As a group, sell-side analysts predict that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current fiscal 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).