Nantahala Capital Management LLC Has $3.87 Million Stake in Eledon Pharmaceuticals, Inc. $ELDN

Nantahala Capital Management LLC trimmed its stake in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,141,237 shares of the company’s stock after selling 6,709 shares during the period. Nantahala Capital Management LLC’s holdings in Eledon Pharmaceuticals were worth $3,869,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in Eledon Pharmaceuticals by 418.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,944 shares of the company’s stock valued at $33,000 after buying an additional 6,412 shares during the period. CW Advisors LLC acquired a new position in Eledon Pharmaceuticals in the first quarter valued at approximately $34,000. Y Intercept Hong Kong Ltd acquired a new position in Eledon Pharmaceuticals in the first quarter valued at approximately $41,000. Alpine Global Management LLC acquired a new position in Eledon Pharmaceuticals in the fourth quarter valued at approximately $56,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Eledon Pharmaceuticals in the fourth quarter valued at approximately $76,000. 56.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ELDN has been the topic of several analyst reports. Zacks Research lowered shares of Eledon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Wall Street Zen lowered shares of Eledon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, June 6th. Craig Hallum assumed coverage on shares of Eledon Pharmaceuticals in a report on Friday, July 25th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, HC Wainwright upgraded shares of Eledon Pharmaceuticals to a “buy” rating and set a $9.00 target price on the stock in a report on Wednesday, June 18th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.00.

Eledon Pharmaceuticals Stock Up 0.8%

Shares of Eledon Pharmaceuticals stock opened at $2.59 on Monday. Eledon Pharmaceuticals, Inc. has a twelve month low of $2.38 and a twelve month high of $5.54. The stock has a market capitalization of $155.09 million, a price-to-earnings ratio of -2.21 and a beta of -0.12. The company has a 50-day simple moving average of $3.06 and a two-hundred day simple moving average of $3.22.

Eledon Pharmaceuticals (NASDAQ:ELDN) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.10. On average, sell-side analysts anticipate that Eledon Pharmaceuticals, Inc. will post -0.81 earnings per share 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).