Geode Capital Management LLC boosted its stake in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) by 75.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 663,101 shares of the company's stock after buying an additional 285,043 shares during the quarter. Geode Capital Management LLC owned approximately 1.11% of Eledon Pharmaceuticals worth $2,733,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of ELDN. Charles Schwab Investment Management Inc. lifted its stake in shares of Eledon Pharmaceuticals by 100.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,987 shares of the company's stock valued at $124,000 after purchasing an additional 15,000 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Eledon Pharmaceuticals during the 4th quarter worth about $82,000. Kera Capital Partners Inc. acquired a new position in shares of Eledon Pharmaceuticals during the 4th quarter valued at about $106,000. Finally, Inspire Investing LLC bought a new position in shares of Eledon Pharmaceuticals in the 4th quarter valued at approximately $802,000. Institutional investors and hedge funds own 56.77% of the company's stock.
Eledon Pharmaceuticals Stock Performance
Shares of ELDN stock traded up $0.08 during mid-day trading on Friday, reaching $3.36. The company's stock had a trading volume of 58,419 shares, compared to its average volume of 284,157. The firm's 50-day moving average is $3.39 and its two-hundred day moving average is $3.97. The company has a market cap of $200.90 million, a P/E ratio of -1.67 and a beta of 0.66. Eledon Pharmaceuticals, Inc. has a 1-year low of $2.00 and a 1-year high of $5.54.
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 for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.32). During the same quarter in the previous year, the company posted ($1.00) earnings per share. Sell-side analysts anticipate that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current year.
Analyst Ratings Changes
Separately, Guggenheim initiated coverage on Eledon Pharmaceuticals in a report on Tuesday, January 28th. They set a "buy" rating and a $9.00 price target on the stock.
Check Out Our Latest Stock Analysis on ELDN
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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