OMERS ADMINISTRATION Corp Makes New $259,000 Investment in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

OMERS ADMINISTRATION Corp bought a new position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 62,800 shares of the company’s stock, valued at approximately $259,000. OMERS ADMINISTRATION Corp owned about 0.11% of Eledon Pharmaceuticals at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. RA Capital Management L.P. bought a new position in shares of Eledon Pharmaceuticals in the fourth quarter valued at approximately $14,693,000. First Light Asset Management LLC bought a new position in shares of Eledon Pharmaceuticals in the fourth quarter valued at approximately $9,595,000. Blue Owl Capital Holdings LP bought a new position in shares of Eledon Pharmaceuticals in the fourth quarter valued at approximately $8,075,000. Ensign Peak Advisors Inc boosted its holdings in shares of Eledon Pharmaceuticals by 185.5% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,264,919 shares of the company’s stock valued at $5,211,000 after acquiring an additional 821,918 shares in the last quarter. Finally, Nantahala Capital Management LLC boosted its holdings in shares of Eledon Pharmaceuticals by 91.3% in the fourth 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 in the last quarter. Institutional investors own 56.77% of the company’s stock.

Analyst Ratings Changes

Separately, Guggenheim began coverage on shares of Eledon Pharmaceuticals in a research note on Tuesday, January 28th. They set a “buy” rating and a $9.00 target price for the company.

Eledon Pharmaceuticals Price Performance

ELDN stock opened at $3.04 on Tuesday. Eledon Pharmaceuticals, Inc. has a 12 month low of $2.30 and a 12 month high of $5.54. The firm has a market cap of $182.04 million, a PE ratio of -1.51 and a beta of 0.08. The firm has a 50 day simple moving average of $3.16 and a 200 day simple moving average of $3.93.

Eledon Pharmaceuticals (NASDAQ:ELDN) last released its earnings results on Wednesday, May 14th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.20. As a group, sell-side analysts expect that Eledon Pharmaceuticals, Inc. will post -0.81 earnings per share 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).