Siren L.L.C. Makes New Investment in Eledon Pharmaceuticals, Inc. $ELDN

Key Points

• Siren L.L.C. has made a new investment of $2.34 million in Eledon Pharmaceuticals by acquiring 690,170 shares, bringing its ownership to approximately 1.15%.
• During the fourth quarter, several institutional investors increased their stakes in Eledon, with RA Capital Management investing $14.69 million and Sphera Funds Management raising its holdings by 96.7%.
• Analysts have varying ratings on Eledon Pharmaceuticals, with the stock receiving a consensus rating of "Moderate Buy" and an average price target of $10.00.

Siren L.L.C. purchased a new position in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 690,170 shares of the company's stock, valued at approximately $2,340,000. Siren L.L.C. owned approximately 1.15% of Eledon Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Eledon Pharmaceuticals by 418.5% in the 4th 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 last quarter. CW Advisors LLC acquired a new stake in shares of Eledon Pharmaceuticals in the first quarter valued at $34,000. Y Intercept Hong Kong Ltd acquired a new position in Eledon Pharmaceuticals during the 1st quarter worth $41,000. Alpine Global Management LLC acquired a new stake in Eledon Pharmaceuticals in the 4th quarter valued at about $56,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Eledon Pharmaceuticals in the 4th quarter valued at about $76,000. Institutional investors and hedge funds own 56.77% of the company's stock.

Eledon Pharmaceuticals Trading Up 1.4%

NASDAQ ELDN traded up $0.04 on Wednesday, reaching $2.59. The company's stock had a trading volume of 316,084 shares, compared to its average volume of 429,702. The firm has a market cap of $154.79 million, a PE ratio of -2.21 and a beta of -0.12. The business has a 50-day moving average price of $3.05 and a 200 day moving average price of $3.20. Eledon Pharmaceuticals, Inc. has a 52 week low of $2.38 and a 52 week high of $5.54.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last released 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. Analysts anticipate that Eledon Pharmaceuticals, Inc. will post -0.81 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Craig Hallum assumed coverage on Eledon Pharmaceuticals in a research report on Friday, July 25th. They set a "buy" rating and a $12.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and set a $9.00 price objective on shares of Eledon Pharmaceuticals in a research report on Tuesday. Zacks Research cut Eledon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Finally, Wall Street Zen cut Eledon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Eledon Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $10.00.

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).