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Geode Capital Management LLC Acquires 285,043 Shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Eledon Pharmaceuticals logo with Medical background

Geode Capital Management LLC grew its holdings in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) by 75.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 663,101 shares of the company's stock after acquiring an additional 285,043 shares during the period. Geode Capital Management LLC owned 1.11% of Eledon Pharmaceuticals worth $2,733,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Virtu Financial LLC bought a new position in shares of Eledon Pharmaceuticals in the fourth quarter worth approximately $82,000. Kera Capital Partners Inc. purchased a new position in shares of Eledon Pharmaceuticals during the 4th quarter valued at $106,000. Charles Schwab Investment Management Inc. boosted its holdings in Eledon Pharmaceuticals by 100.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,987 shares of the company's stock worth $124,000 after buying an additional 15,000 shares during the period. Finally, Inspire Investing LLC purchased a new stake in Eledon Pharmaceuticals in the 4th quarter worth $802,000. Institutional investors own 56.77% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Guggenheim assumed coverage on Eledon Pharmaceuticals in a research note on Tuesday, January 28th. They issued a "buy" rating and a $9.00 price objective for the company.

View Our Latest Report on ELDN

Eledon Pharmaceuticals Stock Performance

Shares of Eledon Pharmaceuticals stock traded up $0.03 on Friday, hitting $3.31. 96,113 shares of the company traded hands, compared to its average volume of 285,376. Eledon Pharmaceuticals, Inc. has a 52 week low of $2.00 and a 52 week high of $5.54. The business has a 50-day simple moving average of $3.37 and a 200 day simple moving average of $3.98. The stock has a market capitalization of $198.21 million, a P/E ratio of -1.65 and a beta of 0.66.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.32). During the same quarter in the prior year, the company posted ($1.00) EPS. Research analysts expect that Eledon Pharmaceuticals, Inc. will post -0.81 earnings per share for the current year.

Eledon Pharmaceuticals Profile

(Free Report)

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).

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Institutional Ownership by Quarter for Eledon Pharmaceuticals (NASDAQ:ELDN)

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