Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Friday.
Eledon Pharmaceuticals Stock Up 3.4%
Shares of NASDAQ ELDN traded up $0.10 on Friday, reaching $3.08. 198,167 shares of the company's stock traded hands, compared to its average volume of 275,119. Eledon Pharmaceuticals has a 12 month low of $2.30 and a 12 month high of $5.54. The business's 50 day simple moving average is $3.05 and its two-hundred day simple moving average is $3.79. The company has a market cap of $184.44 million, a price-to-earnings ratio of -1.53 and a beta of -0.17.
Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.20. Analysts forecast that Eledon Pharmaceuticals will post -0.81 earnings per share for the current fiscal year.
Institutional Trading of Eledon Pharmaceuticals
A number of institutional investors and hedge funds have recently modified their holdings of the business. RA Capital Management L.P. bought a new stake in shares of Eledon Pharmaceuticals in the fourth quarter worth $14,693,000. Sphera Funds Management LTD. grew its holdings in shares of Eledon Pharmaceuticals by 96.7% in the fourth quarter. Sphera Funds Management LTD. now owns 2,551,619 shares of the company's stock worth $10,513,000 after acquiring an additional 1,254,298 shares during the period. First Light Asset Management LLC bought a new stake in shares of Eledon Pharmaceuticals in the fourth quarter worth $9,595,000. Blue Owl Capital Holdings LP bought a new stake in shares of Eledon Pharmaceuticals in the fourth quarter worth $8,075,000. Finally, Woodline Partners LP grew its holdings in shares of Eledon Pharmaceuticals by 98.3% in the fourth quarter. Woodline Partners LP now owns 1,671,822 shares of the company's stock worth $6,888,000 after acquiring an additional 828,930 shares during the period. Institutional investors own 56.77% of the company's stock.
About Eledon Pharmaceuticals
(
Get 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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