SG Americas Securities LLC Makes New Investment in Eledon Pharmaceuticals, Inc. $ELDN

Key Points

• SG Americas Securities LLC bought 627,392 shares of Eledon in Q4 (about $947,000), giving it roughly 1.05% ownership of the company.
• The stock trades around $3.10 with a market cap of $235M and remains unprofitable, though Eledon recently beat quarterly EPS expectations (reported -$0.10 vs. -$0.20 consensus).
• Analyst sentiment is mixed: the MarketBeat consensus is a "Hold" with a $9.67 average target, while Weiss Ratings has reissued a "sell (d-)" on the shares.

SG Americas Securities LLC bought a new position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 627,392 shares of the company's stock, valued at approximately $947,000. SG Americas Securities LLC owned 1.05% of Eledon Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in Eledon Pharmaceuticals by 143.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,154 shares of the company's stock worth $31,000 after acquiring an additional 7,166 shares during the last quarter. Velan Capital Investment Management LP grew its holdings in Eledon Pharmaceuticals by 2.4% in the 3rd quarter. Velan Capital Investment Management LP now owns 346,973 shares of the company's stock worth $899,000 after acquiring an additional 8,000 shares during the last quarter. Bank of America Corp DE grew its holdings in Eledon Pharmaceuticals by 261.8% in the 2nd quarter. Bank of America Corp DE now owns 25,367 shares of the company's stock worth $69,000 after acquiring an additional 18,355 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Eledon Pharmaceuticals by 116.8% in the 3rd quarter. Squarepoint Ops LLC now owns 36,297 shares of the company's stock worth $94,000 after acquiring an additional 19,553 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in Eledon Pharmaceuticals in the 2nd quarter worth $75,000. Hedge funds and other institutional investors own 56.77% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Eledon Pharmaceuticals in a report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $9.67.

Eledon Pharmaceuticals Stock Down 1.0%

NASDAQ:ELDN opened at $3.10 on Friday. The stock has a market cap of $235.14 million, a P/E ratio of -5.96 and a beta of 0.83. The firm's fifty day simple moving average is $2.59 and its 200 day simple moving average is $2.39. Eledon Pharmaceuticals, Inc. has a twelve month low of $1.35 and a twelve month high of $4.60.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.10. On average, analysts expect that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current fiscal year.

Eledon Pharmaceuticals Profile

Eledon Pharmaceuticals, Inc NASDAQ: ELDN is a clinical-stage biopharmaceutical company focused on the discovery and development of therapies for diseases characterized by smooth muscle dysfunction. The company leverages a proprietary ion-channel modulation platform to identify and optimize small-molecule compounds that can either restore or inhibit smooth muscle activity, with the goal of addressing gastrointestinal, hepatic and cardiovascular disorders.

Eledon's pipeline comprises several preclinical and early-phase clinical programs targeting high-unmet-need indications.

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