RA Capital Management L.P. Buys New Stake in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

RA Capital Management L.P. acquired a new position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 3,566,338 shares of the company's stock, valued at approximately $14,693,000. RA Capital Management L.P. owned approximately 5.97% of Eledon Pharmaceuticals as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in Eledon Pharmaceuticals during the fourth quarter valued at about $504,000. Schonfeld Strategic Advisors LLC boosted its stake in Eledon Pharmaceuticals by 1.1% in the 4th 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 in the last quarter. Nantahala Capital Management LLC lifted its stake 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 acquiring an additional 547,946 shares during the period. First Light Asset Management LLC purchased a new position in shares of Eledon Pharmaceuticals in the fourth quarter worth approximately $9,595,000. Finally, Northern Trust Corp raised its position in shares of Eledon Pharmaceuticals by 38.1% during the 4th quarter. Northern Trust Corp now owns 126,885 shares of the company's stock valued at $523,000 after purchasing an additional 34,992 shares during the period. Institutional investors own 56.77% of the company's stock.

Eledon Pharmaceuticals Trading Down 5.6 %

Shares of ELDN traded down $0.17 during trading hours on Tuesday, hitting $2.93. The company had a trading volume of 100,800 shares, compared to its average volume of 241,655. Eledon Pharmaceuticals, Inc. has a one year low of $2.00 and a one year high of $5.54. The company's fifty day moving average price is $3.35 and its two-hundred day moving average price is $3.99. The company has a market capitalization of $175.21 million, a PE ratio of -1.46 and a beta of 0.08.

Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last released its quarterly 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. Analysts forecast that Eledon Pharmaceuticals, Inc. will post -0.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Eledon Pharmaceuticals Company 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).