Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Holdings Lifted by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc increased its position in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) by 185.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,264,919 shares of the company's stock after purchasing an additional 821,918 shares during the quarter. Ensign Peak Advisors Inc owned 2.12% of Eledon Pharmaceuticals worth $5,211,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in Eledon Pharmaceuticals by 418.5% in 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 period. Alpine Global Management LLC acquired a new stake in shares of Eledon Pharmaceuticals during the fourth quarter worth $56,000. ADAR1 Capital Management LLC purchased a new stake in shares of Eledon Pharmaceuticals in the fourth quarter valued at $66,000. Virtu Financial LLC acquired a new position in Eledon Pharmaceuticals in the fourth quarter valued at $82,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Eledon Pharmaceuticals in the fourth quarter valued at $101,000. 56.77% of the stock is owned by institutional investors and hedge funds.

Eledon Pharmaceuticals Trading Up 1.2%

NASDAQ:ELDN traded up $0.04 during trading hours on Tuesday, hitting $3.08. The stock had a trading volume of 26,429 shares, compared to its average volume of 272,512. The company has a market cap of $184.14 million, a PE ratio of -1.53 and a beta of 0.08. The business has a 50 day simple moving average of $3.16 and a two-hundred day simple moving average of $3.93. Eledon Pharmaceuticals, Inc. has a 1-year low of $2.30 and a 1-year high of $5.54.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.20. Research analysts expect that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current fiscal year.

Analyst Ratings Changes

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

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).