Nantahala Capital Management LLC Acquires 547,946 Shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Nantahala Capital Management LLC grew its position in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) by 91.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,147,946 shares of the company's stock after buying an additional 547,946 shares during the quarter. Nantahala Capital Management LLC owned 1.92% of Eledon Pharmaceuticals worth $4,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in Eledon Pharmaceuticals by 9.7% during the third quarter. Geode Capital Management LLC now owns 378,058 shares of the company's stock valued at $942,000 after acquiring an additional 33,569 shares during the last quarter. Kera Capital Partners Inc. bought a new stake in shares of Eledon Pharmaceuticals during the 4th quarter valued at about $106,000. Inspire Investing LLC purchased a new stake in shares of Eledon Pharmaceuticals during the 4th quarter valued at about $802,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Eledon Pharmaceuticals by 100.1% in the fourth 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 last quarter. Finally, Virtu Financial LLC bought a new stake in Eledon Pharmaceuticals during the fourth quarter valued at approximately $82,000. 56.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Guggenheim assumed coverage on shares of Eledon Pharmaceuticals in a research report on Tuesday, January 28th. They issued a "buy" rating and a $9.00 price target on the stock.

Eledon Pharmaceuticals Stock Up 0.9 %

ELDN traded up $0.03 during midday trading on Friday, reaching $3.31. The company had a trading volume of 96,113 shares, compared to its average volume of 284,948. The business has a 50-day moving average of $3.37 and a two-hundred day moving average of $3.97. Eledon Pharmaceuticals, Inc. has a 1 year low of $2.00 and a 1 year high of $5.54. The company has a market cap 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 released its earnings results on Thursday, March 20th. The company reported ($0.64) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.32). During the same period in the prior year, the company posted ($1.00) EPS. On average, equities research analysts predict that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current 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).