Defilade Capital Management L.P. Grows Position in Eledon Pharmaceuticals, Inc. $ELDN

Defilade Capital Management L.P. grew its holdings in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 8.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,564,127 shares of the company’s stock after purchasing an additional 273,677 shares during the quarter. Eledon Pharmaceuticals comprises approximately 1.5% of Defilade Capital Management L.P.’s portfolio, making the stock its 28th biggest holding. Defilade Capital Management L.P.’s holdings in Eledon Pharmaceuticals were worth $10,978,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. First Light Asset Management LLC raised its position in shares of Eledon Pharmaceuticals by 11.7% in the second quarter. First Light Asset Management LLC now owns 2,600,498 shares of the company’s stock valued at $7,047,000 after purchasing an additional 271,730 shares during the period. Ensign Peak Advisors Inc boosted its holdings in Eledon Pharmaceuticals by 94.9% in the 4th quarter. Ensign Peak Advisors Inc now owns 2,464,919 shares of the company’s stock worth $3,722,000 after buying an additional 1,200,000 shares during the period. Zimmer Partners LP boosted its holdings in Eledon Pharmaceuticals by 30.6% in the 4th quarter. Zimmer Partners LP now owns 2,384,228 shares of the company’s stock worth $3,600,000 after buying an additional 559,228 shares during the period. Sphera Funds Management LTD. grew its stake in Eledon Pharmaceuticals by 97.4% in the 4th quarter. Sphera Funds Management LTD. now owns 2,132,131 shares of the company’s stock valued at $3,220,000 after buying an additional 1,051,898 shares in the last quarter. Finally, Blue Owl Capital Holdings LP grew its stake in Eledon Pharmaceuticals by 96.9% in the 4th quarter. Blue Owl Capital Holdings LP now owns 1,929,912 shares of the company’s stock valued at $2,914,000 after buying an additional 950,000 shares in the last quarter. Hedge funds and other institutional investors own 56.77% of the company’s stock.

Eledon Pharmaceuticals Stock Performance

Shares of Eledon Pharmaceuticals stock opened at $3.38 on Monday. The company’s 50-day moving average price is $3.76 and its 200-day moving average price is $3.19. Eledon Pharmaceuticals, Inc. has a 12-month low of $1.35 and a 12-month high of $4.60. The company has a market cap of $260.90 million, a price-to-earnings ratio of -4.39 and a beta of 0.98.

Eledon Pharmaceuticals (NASDAQ:ELDN) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.33) 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 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ELDN. Rodman & Renshaw started coverage on shares of Eledon Pharmaceuticals in a report on Tuesday, July 21st. They set a “buy” rating and a $12.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research report on Wednesday, June 24th. Finally, Wall Street Zen cut Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.