Sphera Funds Management LTD. increased its position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Free Report) by 96.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,551,619 shares of the company's stock after purchasing an additional 1,254,298 shares during the period. Eledon Pharmaceuticals accounts for about 1.9% of Sphera Funds Management LTD.'s holdings, making the stock its 12th biggest holding. Sphera Funds Management LTD. owned 4.27% of Eledon Pharmaceuticals worth $10,513,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in ELDN. Kera Capital Partners Inc. purchased a new stake in shares of Eledon Pharmaceuticals in the 4th quarter valued at about $106,000. Inspire Investing LLC purchased a new stake in shares of Eledon Pharmaceuticals in the 4th quarter valued at about $802,000. Charles Schwab Investment Management Inc. lifted its holdings 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 purchased a new stake in shares of Eledon Pharmaceuticals in the 4th quarter valued at about $82,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Eledon Pharmaceuticals by 75.4% in the 4th quarter. Geode Capital Management LLC now owns 663,101 shares of the company's stock valued at $2,733,000 after purchasing an additional 285,043 shares during the last quarter. 56.77% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Guggenheim initiated coverage on Eledon Pharmaceuticals in a report on Tuesday, January 28th. They issued a "buy" rating and a $9.00 target price for the company.
Read Our Latest Report on Eledon Pharmaceuticals
Eledon Pharmaceuticals Stock Up 5.9%
ELDN traded up $0.17 on Monday, hitting $3.04. 278,082 shares of the company traded hands, compared to its average volume of 273,492. The stock has a market capitalization of $182.04 million, a PE ratio of -1.51 and a beta of 0.08. The company has a 50 day moving average of $3.17 and a 200-day moving average of $3.94. Eledon Pharmaceuticals, Inc. has a 12-month low of $2.30 and a 12-month high of $5.54.
Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.20. On average, research analysts anticipate that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current year.
About Eledon Pharmaceuticals
(
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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