Schonfeld Strategic Advisors LLC Grows Position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Schonfeld Strategic Advisors LLC raised its holdings in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,515,750 shares of the company’s stock after acquiring an additional 15,750 shares during the quarter. Schonfeld Strategic Advisors LLC owned 2.54% of Eledon Pharmaceuticals worth $6,245,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Inspire Investing LLC acquired a new stake in shares of Eledon Pharmaceuticals in the fourth quarter valued at about $802,000. Charles Schwab Investment Management Inc. lifted its position in shares of Eledon Pharmaceuticals by 100.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,987 shares of the company’s stock valued at $124,000 after acquiring an additional 15,000 shares during the period. Geode Capital Management LLC boosted its stake in shares of Eledon Pharmaceuticals by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 378,058 shares of the company’s stock worth $942,000 after acquiring an additional 33,569 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Eledon Pharmaceuticals in the 4th quarter worth approximately $82,000. Finally, EAM Investors LLC purchased a new position in Eledon Pharmaceuticals in the 4th quarter valued at approximately $451,000. 56.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Guggenheim began coverage on Eledon Pharmaceuticals in a report on Tuesday, January 28th. They issued a “buy” rating and a $9.00 target price on the stock.

Eledon Pharmaceuticals Price Performance

Shares of NASDAQ ELDN opened at $3.28 on Friday. The firm’s 50-day moving average is $3.39 and its two-hundred day moving average is $3.97. The company has a market capitalization of $196.41 million, a PE ratio of -1.63 and a beta of 0.66. Eledon Pharmaceuticals, Inc. has a 12-month low of $2.00 and a 12-month high of $5.54.

Eledon Pharmaceuticals (NASDAQ:ELDN) last posted its earnings results on Thursday, March 20th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.32). During the same quarter in the previous year, the firm earned ($1.00) earnings per share. On average, analysts forecast that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current fiscal year.

About Eledon Pharmaceuticals

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).