Woodline Partners LP Has $6.89 Million Position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Woodline Partners LP lifted its stake in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) by 98.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,671,822 shares of the company's stock after purchasing an additional 828,930 shares during the period. Woodline Partners LP owned approximately 2.80% of Eledon Pharmaceuticals worth $6,888,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its holdings in Eledon Pharmaceuticals by 418.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,944 shares of the company's stock valued at $33,000 after buying an additional 6,412 shares during the period. Alpine Global Management LLC acquired a new stake in Eledon Pharmaceuticals in the fourth quarter worth $56,000. ADAR1 Capital Management LLC acquired a new stake in Eledon Pharmaceuticals in the fourth quarter worth $66,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Eledon Pharmaceuticals in the fourth quarter worth $76,000. Finally, Virtu Financial LLC acquired a new stake in Eledon Pharmaceuticals in the fourth quarter worth $82,000. 56.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Eledon Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Thursday, May 22nd.

Eledon Pharmaceuticals Stock Performance

Eledon Pharmaceuticals stock traded down $0.06 during mid-day trading on Thursday, reaching $3.09. The company's stock had a trading volume of 129,618 shares, compared to its average volume of 272,585. The company has a market capitalization of $185.04 million, a price-to-earnings ratio of -1.54 and a beta of 0.08. Eledon Pharmaceuticals, Inc. has a 12 month low of $2.30 and a 12 month high of $5.54. The business's 50 day simple moving average is $3.09 and its 200 day simple moving average is $3.85.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.28) by $0.20. As a group, sell-side analysts expect that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current year.

Eledon Pharmaceuticals Company 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).