Goldman Sachs Group Inc. Has $875,000 Stock Holdings in Eledon Pharmaceuticals, Inc. $ELDN

Goldman Sachs Group Inc. increased its stake in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) by 78.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 258,106 shares of the company's stock after acquiring an additional 113,261 shares during the period. Goldman Sachs Group Inc. owned about 0.43% of Eledon Pharmaceuticals worth $875,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Siren L.L.C. acquired a new stake in shares of Eledon Pharmaceuticals during the first quarter worth $2,340,000. Jane Street Group LLC bought a new position in Eledon Pharmaceuticals in the fourth quarter valued at $504,000. Millennium Management LLC bought a new position in Eledon Pharmaceuticals in the fourth quarter valued at $490,000. Bank of America Corp DE grew its position in Eledon Pharmaceuticals by 1,295.9% in the fourth quarter. Bank of America Corp DE now owns 95,142 shares of the company's stock valued at $392,000 after purchasing an additional 88,326 shares in the last quarter. Finally, Northern Trust Corp grew its position in Eledon Pharmaceuticals by 38.1% in the fourth quarter. Northern Trust Corp now owns 126,885 shares of the company's stock valued at $523,000 after purchasing an additional 34,992 shares in the last quarter. 56.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Eledon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Zacks Research downgraded shares of Eledon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. 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 target price for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $9.00 target price on shares of Eledon Pharmaceuticals in a research report on Tuesday, September 2nd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $10.00.

Eledon Pharmaceuticals Trading Up 2.0%

Shares of NASDAQ:ELDN opened at $2.60 on Tuesday. The firm has a 50 day moving average of $2.90 and a 200-day moving average of $3.04. The stock has a market capitalization of $155.69 million, a PE ratio of -2.22 and a beta of -0.12. Eledon Pharmaceuticals, Inc. has a 12 month low of $2.32 and a 12 month high of $5.54.

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. On average, research analysts predict that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current fiscal 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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.