Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.10, Zacks reports.
Eledon Pharmaceuticals Price Performance
Shares of ELDN traded down $0.04 during midday trading on Wednesday, hitting $2.58. The stock had a trading volume of 745,806 shares, compared to its average volume of 1,051,688. The stock's 50 day moving average is $3.09 and its 200 day moving average is $3.34. The firm has a market cap of $154.49 million, a PE ratio of -2.21 and a beta of -0.15. Eledon Pharmaceuticals has a 1 year low of $2.38 and a 1 year high of $5.54.
Institutional Trading of Eledon Pharmaceuticals
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in shares of Eledon Pharmaceuticals by 261.8% during the second quarter. Bank of America Corp DE now owns 25,367 shares of the company's stock valued at $69,000 after purchasing an additional 18,355 shares during the period. JPMorgan Chase & Co. purchased a new position in Eledon Pharmaceuticals in the 2nd quarter worth about $75,000. Invesco Ltd. bought a new stake in Eledon Pharmaceuticals during the 2nd quarter valued at about $81,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Eledon Pharmaceuticals in the 2nd quarter valued at about $87,000. Finally, American Century Companies Inc. bought a new position in Eledon Pharmaceuticals in the 2nd quarter worth about $96,000. 56.77% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms recently commented on ELDN. HC Wainwright upgraded Eledon Pharmaceuticals to a "buy" rating and set a $9.00 target price on the stock in a research report on Wednesday, June 18th. Wall Street Zen cut Eledon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Zacks Research downgraded Eledon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Monday. Finally, Craig Hallum assumed coverage on shares of Eledon Pharmaceuticals in a research report on Friday, July 25th. They issued a "buy" rating and a $12.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $10.00.
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About Eledon Pharmaceuticals
(
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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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