Boothbay Fund Management LLC Invests $1.41 Million in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Boothbay Fund Management LLC purchased a new stake in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 341,923 shares of the company's stock, valued at approximately $1,409,000. Boothbay Fund Management LLC owned 0.57% of Eledon Pharmaceuticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tower Research Capital LLC TRC boosted its stake in 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 purchasing an additional 6,412 shares during the last quarter. Alpine Global Management LLC bought a new stake in Eledon Pharmaceuticals during the fourth quarter worth $56,000. ADAR1 Capital Management LLC purchased a new stake in Eledon Pharmaceuticals in the 4th quarter valued at $66,000. Virtu Financial LLC bought a new position in Eledon Pharmaceuticals during the 4th quarter valued at $82,000. Finally, Kera Capital Partners Inc. purchased a new position in Eledon Pharmaceuticals during the 4th quarter worth $106,000. Institutional investors own 56.77% of the company's stock.

Eledon Pharmaceuticals Stock Up 0.9 %

Eledon Pharmaceuticals stock traded up $0.03 during mid-day trading on Friday, reaching $3.31. 96,113 shares of the company's stock were exchanged, compared to its average volume of 285,376. The firm has a market capitalization of $198.21 million, a PE ratio of -1.65 and a beta of 0.66. The business's fifty day simple moving average is $3.37 and its 200 day simple moving average is $3.99. 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 issued its quarterly 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 period in the prior year, the firm earned ($1.00) EPS. On average, sell-side analysts forecast that Eledon Pharmaceuticals, Inc. will post -0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Guggenheim initiated coverage on shares of Eledon Pharmaceuticals in a report on Tuesday, January 28th. They set a "buy" rating and a $9.00 price target on the stock.

Eledon Pharmaceuticals Company 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).