Exome Asset Management LLC Has $387,000 Stock Position in Eledon Pharmaceuticals, Inc. $ELDN

Key Points

• Exome Asset Management LLC has reduced its stake in Eledon Pharmaceuticals by 55.5%, now holding 114,145 shares worth approximately $387,000.
• Analysts have mixed ratings for Eledon Pharmaceuticals, with Zacks cutting the rating to "hold," while HC Wainwright maintains a "buy" rating with a target price of $9.00.
• Eledon Pharmaceuticals reported a quarterly loss of ($0.13) earnings per share, exceeding analysts’ expectations, and the stock has seen a recent decline of 4.8%.

Exome Asset Management LLC lowered its stake in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) by 55.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,145 shares of the company's stock after selling 142,228 shares during the quarter. Exome Asset Management LLC owned about 0.19% of Eledon Pharmaceuticals worth $387,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in Eledon Pharmaceuticals by 418.5% during the fourth 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. CW Advisors LLC bought a new position in Eledon Pharmaceuticals during the first quarter worth $34,000. Y Intercept Hong Kong Ltd bought a new position in Eledon Pharmaceuticals during the first quarter worth $41,000. Alpine Global Management LLC bought a new position in Eledon Pharmaceuticals during the fourth quarter worth $56,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Eledon Pharmaceuticals during the fourth quarter worth $76,000. Institutional investors own 56.77% of the company's stock.

Eledon Pharmaceuticals Stock Performance

Shares of NASDAQ:ELDN traded down $0.12 on Friday, hitting $2.42. The stock had a trading volume of 677,478 shares, compared to its average volume of 633,203. Eledon Pharmaceuticals, Inc. has a twelve month low of $2.38 and a twelve month high of $5.54. The firm's 50 day moving average price is $3.01 and its 200-day moving average price is $3.10. The company has a market capitalization of $144.91 million, a price-to-earnings ratio of -2.07 and a beta of -0.12.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.10. As a group, sell-side analysts predict that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ELDN shares. Wall Street Zen downgraded shares of Eledon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Zacks Research downgraded shares of Eledon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. HC Wainwright reiterated a "buy" rating and set a $9.00 price target on shares of Eledon Pharmaceuticals in a research note on Tuesday, September 2nd. Finally, Craig Hallum started coverage on shares of Eledon Pharmaceuticals in a research note on Friday, July 25th. They set 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 given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $10.00.

About Eledon Pharmaceuticals

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).