Catalio Capital Management LP Acquires 198,688 Shares of Eledon Pharmaceuticals, Inc. $ELDN

Catalio Capital Management LP grew its holdings in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 18.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,259,820 shares of the company’s stock after buying an additional 198,688 shares during the period. Catalio Capital Management LP’s holdings in Eledon Pharmaceuticals were worth $1,902,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets grew its stake in Eledon Pharmaceuticals by 143.7% in the third quarter. BNP Paribas Financial Markets now owns 12,154 shares of the company’s stock worth $31,000 after purchasing an additional 7,166 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Eledon Pharmaceuticals by 72.9% during the fourth quarter. Cetera Investment Advisers now owns 26,584 shares of the company’s stock worth $40,000 after buying an additional 11,207 shares during the period. Marshall Wace LLP purchased a new stake in Eledon Pharmaceuticals during the fourth quarter worth $45,000. Bank of America Corp DE lifted its holdings in Eledon Pharmaceuticals by 261.8% during the second quarter. Bank of America Corp DE now owns 25,367 shares of the company’s stock worth $69,000 after buying an additional 18,355 shares during the period. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Eledon Pharmaceuticals during the 2nd quarter valued at $75,000. Institutional investors own 56.77% of the company’s stock.

Eledon Pharmaceuticals Trading Up 6.3%

Shares of Eledon Pharmaceuticals stock opened at $3.70 on Thursday. Eledon Pharmaceuticals, Inc. has a twelve month low of $1.35 and a twelve month high of $4.60. The firm has a market capitalization of $285.60 million, a PE ratio of -4.81 and a beta of 0.94. The firm’s 50-day moving average price is $3.64 and its 200 day moving average price is $2.69.

Eledon Pharmaceuticals (NASDAQ:ELDN) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.11). On average, sell-side analysts predict that Eledon Pharmaceuticals, Inc. will post -0.74 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen lowered Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research report on Friday, March 27th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Eledon Pharmaceuticals has an average rating of “Hold” and a consensus price target of $9.67.

Eledon Pharmaceuticals Profile

Eledon Pharmaceuticals, Inc (NASDAQ:ELDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of therapies for diseases characterized by smooth muscle dysfunction. The company leverages a proprietary ion-channel modulation platform to identify and optimize small-molecule compounds that can either restore or inhibit smooth muscle activity, with the goal of addressing gastrointestinal, hepatic and cardiovascular disorders.

Eledon’s pipeline comprises several preclinical and early-phase clinical programs targeting high-unmet-need indications.