Zimmer Partners LP Decreases Stock Holdings in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Zimmer Partners LP decreased its position in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) by 47.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 750,000 shares of the company's stock after selling 684,727 shares during the period. Zimmer Partners LP owned approximately 1.26% of Eledon Pharmaceuticals worth $3,090,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of ELDN. Inspire Investing LLC bought a new position in shares of Eledon Pharmaceuticals during the fourth quarter valued at approximately $802,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Eledon Pharmaceuticals by 100.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,987 shares of the company's stock worth $124,000 after acquiring an additional 15,000 shares during the last quarter. Virtu Financial LLC purchased a new position in Eledon Pharmaceuticals during the 4th quarter valued at $82,000. Geode Capital Management LLC grew its position in Eledon Pharmaceuticals by 75.4% in the 4th quarter. Geode Capital Management LLC now owns 663,101 shares of the company's stock valued at $2,733,000 after acquiring an additional 285,043 shares during the last quarter. Finally, ADAR1 Capital Management LLC bought a new position in Eledon Pharmaceuticals in the 4th quarter valued at $66,000. Institutional investors own 56.77% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ELDN. Wall Street Zen upgraded Eledon Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research report on Thursday. Guggenheim initiated coverage on shares of Eledon Pharmaceuticals in a research note on Tuesday, January 28th. They issued a "buy" rating and a $9.00 price target on the stock.

Eledon Pharmaceuticals Trading Up 1.0%

Shares of NASDAQ ELDN traded up $0.03 during trading hours on Monday, reaching $3.05. The stock had a trading volume of 175,430 shares, compared to its average volume of 273,037. Eledon Pharmaceuticals, Inc. has a 52-week low of $2.30 and a 52-week high of $5.54. The firm has a market cap of $182.64 million, a price-to-earnings ratio of -1.52 and a beta of 0.08. The business's fifty day moving average price is $3.12 and its two-hundred day moving average price is $3.88.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last issued 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. Equities research analysts anticipate that Eledon Pharmaceuticals, Inc. will post -0.81 earnings per share 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).