BlackRock Inc. Takes $20.19 Million Position in Eledon Pharmaceuticals, Inc. $ELDN

BlackRock Inc. bought a new position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,123,842 shares of the company’s stock, valued at approximately $20,188,000. BlackRock Inc. owned about 0.07% of Eledon Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ELDN. BNP Paribas Financial Markets grew its holdings in Eledon Pharmaceuticals by 143.7% during the third quarter. BNP Paribas Financial Markets now owns 12,154 shares of the company’s stock valued at $31,000 after purchasing an additional 7,166 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Eledon Pharmaceuticals during the 4th quarter worth $36,000. Relyea Zuckerberg Hanson LLC bought a new stake in shares of Eledon Pharmaceuticals during the 1st quarter worth $37,000. Waverly Advisors LLC bought a new stake in shares of Eledon Pharmaceuticals during the 1st quarter worth $39,000. Finally, Virtu Financial LLC acquired a new position in Eledon Pharmaceuticals in the 4th quarter valued at $39,000. Institutional investors own 56.77% of the company’s stock.

Analysts Set New Price Targets

ELDN has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Sunday, August 23rd. Rodman & Renshaw began coverage on shares of Eledon Pharmaceuticals in a report on Tuesday, July 21st. They set a “buy” rating and a $12.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Eledon Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $10.00.

Eledon Pharmaceuticals Stock Down 0.7%

Shares of ELDN opened at $2.99 on Thursday. Eledon Pharmaceuticals, Inc. has a 12-month low of $1.35 and a 12-month high of $4.60. The firm has a market capitalization of $242.97 million, a price-to-earnings ratio of -3.29 and a beta of 0.93. The stock’s 50-day moving average price is $3.65 and its 200 day moving average price is $3.40.

Eledon Pharmaceuticals (NASDAQ:ELDN) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). Equities research analysts expect that Eledon Pharmaceuticals, Inc. will post -0.74 EPS for the current year.

Eledon Pharmaceuticals Company 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.