RA Capital Management L.P. Invests $14.69 Million in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

RA Capital Management L.P. purchased a new position in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,566,338 shares of the company's stock, valued at approximately $14,693,000. RA Capital Management L.P. owned about 5.97% of Eledon Pharmaceuticals at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ELDN. Jane Street Group LLC purchased a new stake in Eledon Pharmaceuticals during the 4th quarter valued at $504,000. Schonfeld Strategic Advisors LLC grew its stake in shares of Eledon Pharmaceuticals by 1.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,515,750 shares of the company's stock worth $6,245,000 after purchasing an additional 15,750 shares during the last quarter. Nantahala Capital Management LLC increased its holdings in Eledon Pharmaceuticals by 91.3% during the 4th quarter. Nantahala Capital Management LLC now owns 1,147,946 shares of the company's stock valued at $4,730,000 after purchasing an additional 547,946 shares during the period. First Light Asset Management LLC bought a new position in Eledon Pharmaceuticals during the 4th quarter valued at approximately $9,595,000. Finally, Northern Trust Corp lifted its holdings in Eledon Pharmaceuticals by 38.1% in the 4th quarter. Northern Trust Corp now owns 126,885 shares of the company's stock worth $523,000 after buying an additional 34,992 shares during the period. 56.77% of the stock is owned by hedge funds and other institutional investors.

Eledon Pharmaceuticals Price Performance

ELDN stock traded down $0.21 during trading on Monday, reaching $3.10. The company had a trading volume of 108,145 shares, compared to its average volume of 284,667. 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 moving average of $3.37 and a 200 day moving average of $3.99. The company has a market cap of $185.63 million, a P/E ratio of -1.54 and a beta of 0.08.

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 quarter in the prior year, the firm posted ($1.00) earnings per share. Research analysts expect that Eledon Pharmaceuticals, Inc. will post -0.81 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Guggenheim initiated coverage on Eledon Pharmaceuticals in a report on Tuesday, January 28th. They set a "buy" rating and a $9.00 target price for the company.

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).