Bank of America Corp DE Increases Position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Bank of America Corp DE lifted its holdings in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) by 1,295.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,142 shares of the company's stock after purchasing an additional 88,326 shares during the period. Bank of America Corp DE owned about 0.16% of Eledon Pharmaceuticals worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Alyeska Investment Group L.P. boosted its holdings in shares of Eledon Pharmaceuticals by 86.7% during the 4th quarter. Alyeska Investment Group L.P. now owns 933,475 shares of the company's stock worth $3,846,000 after purchasing an additional 433,475 shares during the last quarter. Allostery Investments LP acquired a new position in shares of Eledon Pharmaceuticals during the 4th quarter worth approximately $412,000. 683 Capital Management LLC acquired a new position in shares of Eledon Pharmaceuticals during the 4th quarter worth approximately $638,000. Acuta Capital Partners LLC acquired a new position in shares of Eledon Pharmaceuticals during the 4th quarter worth approximately $971,000. Finally, RA Capital Management L.P. acquired a new position in shares of Eledon Pharmaceuticals during the 4th quarter worth approximately $14,693,000. 56.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Eledon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Friday, June 6th.

Eledon Pharmaceuticals Stock Down 2.4%

Shares of Eledon Pharmaceuticals stock traded down $0.07 on Monday, hitting $2.80. 246,214 shares of the company were exchanged, compared to its average volume of 276,053. The stock has a market capitalization of $167.67 million, a price-to-earnings ratio of -1.39 and a beta of -0.17. The company has a 50-day moving average price of $3.05 and a 200 day moving average price of $3.74. 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, beating the consensus estimate of ($0.28) by $0.20. Research analysts forecast that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current year.

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).