Boothbay Fund Management LLC bought a new stake in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 341,923 shares of the company's stock, valued at approximately $1,409,000. Boothbay Fund Management LLC owned 0.57% of Eledon Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its position 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 period. Renaissance Technologies LLC raised its stake in Eledon Pharmaceuticals by 8.3% in the fourth quarter. Renaissance Technologies LLC now owns 147,173 shares of the company's stock worth $606,000 after buying an additional 11,300 shares in the last quarter. Alpine Global Management LLC purchased a new stake in Eledon Pharmaceuticals in the fourth quarter worth about $56,000. Charles Schwab Investment Management Inc. boosted its position in Eledon Pharmaceuticals by 100.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,987 shares of the company's stock valued at $124,000 after acquiring an additional 15,000 shares in the last quarter. Finally, ADAR1 Capital Management LLC purchased a new position in shares of Eledon Pharmaceuticals during the 4th quarter worth approximately $66,000. Institutional investors own 56.77% of the company's stock.
Wall Street Analyst Weigh In
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 target on the stock.
Get Our Latest Stock Analysis on ELDN
Eledon Pharmaceuticals Stock Performance
Shares of ELDN traded up $0.03 during mid-day trading on Friday, hitting $3.31. 96,113 shares of the company traded hands, compared to its average volume of 284,948. The stock has a 50-day moving average price of $3.37 and a two-hundred day moving average price of $3.97. The stock has a market cap of $198.21 million, a price-to-earnings ratio of -1.65 and a beta of 0.66. Eledon Pharmaceuticals, Inc. has a 1 year low of $2.00 and a 1 year high of $5.54.
Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last posted its quarterly earnings data 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 firm earned ($1.00) earnings per share. On average, analysts forecast that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current year.
Eledon Pharmaceuticals Profile
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Free Report)
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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