Nantahala Capital Management LLC Grows Stock Position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Nantahala Capital Management LLC boosted its holdings in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) by 91.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,147,946 shares of the company's stock after acquiring an additional 547,946 shares during the period. 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.

A number of other hedge funds have also bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in shares of Eledon Pharmaceuticals by 418.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,944 shares of the company's stock worth $33,000 after purchasing an additional 6,412 shares during the last quarter. Alpine Global Management LLC bought a new position in shares of Eledon Pharmaceuticals in the fourth quarter valued at approximately $56,000. ADAR1 Capital Management LLC purchased a new position in shares of Eledon Pharmaceuticals during the fourth quarter valued at approximately $66,000. Virtu Financial LLC purchased a new stake in Eledon Pharmaceuticals in the 4th quarter valued at $82,000. Finally, Kera Capital Partners Inc. purchased a new position in Eledon Pharmaceuticals during the 4th quarter worth $106,000. 56.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Eledon Pharmaceuticals Stock Performance

ELDN stock traded up $0.03 during midday trading on Friday, reaching $3.31. 96,113 shares of the company's stock traded hands, compared to its average volume of 284,287. The company has a 50-day moving average price of $3.39 and a two-hundred day moving average price of $3.97. The firm has a market capitalization of $198.21 million, a PE ratio of -1.65 and a beta of 0.66. Eledon Pharmaceuticals, Inc. has a 52 week low of $2.00 and a 52 week high of $5.54.

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