Siren L.L.C. Buys Shares of 690,170 Eledon Pharmaceuticals, Inc. $ELDN

Key Points

• Siren L.L.C. invested $2.34 million in Eledon Pharmaceuticals by acquiring 690,170 shares, representing about 1.15% ownership of the company.
• Eledon Pharmaceuticals has recently been rated as a "Moderate Buy" by analysts, with a consensus price target of $10.00 and three out of four analysts recommending a buy rating.
• The company's stock is currently trading at $2.59, down 3.4%, with a 1-year low of $2.38 and a high of $5.54.

Siren L.L.C. bought a new stake in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 690,170 shares of the company's stock, valued at approximately $2,340,000. Siren L.L.C. owned about 1.15% of Eledon Pharmaceuticals at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position in shares of Eledon Pharmaceuticals by 418.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,944 shares of the company's stock valued at $33,000 after acquiring an additional 6,412 shares during the period. CW Advisors LLC bought a new position in shares of Eledon Pharmaceuticals in the 1st quarter valued at about $34,000. Y Intercept Hong Kong Ltd bought a new position in shares of Eledon Pharmaceuticals in the 1st quarter valued at about $41,000. Alpine Global Management LLC bought a new position in shares of Eledon Pharmaceuticals in the 4th quarter valued at about $56,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Eledon Pharmaceuticals in the 4th quarter worth about $76,000. Institutional investors own 56.77% of the company's stock.

Eledon Pharmaceuticals Stock Performance

Shares of ELDN stock traded down $0.11 on Tuesday, reaching $2.36. 241,584 shares of the company were exchanged, compared to its average volume of 442,502. The company has a market cap of $141.02 million, a price-to-earnings ratio of -2.01 and a beta of -0.12. The business has a 50-day moving average price of $3.00 and a 200 day moving average price of $3.09. Eledon Pharmaceuticals, Inc. has a 1 year low of $2.37 and a 1 year 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, topping analysts' consensus estimates of ($0.23) by $0.10. As a group, equities analysts anticipate that Eledon Pharmaceuticals, Inc. will post -0.81 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on ELDN. Wall Street Zen lowered shares of Eledon Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. HC Wainwright reiterated a "buy" rating and set a $9.00 price objective on shares of Eledon Pharmaceuticals in a research note on Tuesday, September 2nd. Zacks Research downgraded shares of Eledon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Finally, Craig Hallum assumed coverage on shares of Eledon Pharmaceuticals in a research note on Friday, July 25th. They set a "buy" rating and a $12.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock 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).