Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN - Get Free Report) was down 3.4% during mid-day trading on Monday . The stock traded as low as $3.96 and last traded at $4.01. Approximately 395,521 shares were traded during trading, an increase of 49% from the average daily volume of 265,548 shares. The stock had previously closed at $4.15.
Analysts Set New Price Targets
Several research analysts recently issued reports on ELDN shares. Guggenheim initiated coverage on shares of Eledon Pharmaceuticals in a research note on Tuesday, January 28th. They set a "buy" rating and a $9.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $16.00 target price on shares of Eledon Pharmaceuticals in a report on Wednesday, November 20th.
Read Our Latest Analysis on Eledon Pharmaceuticals
Eledon Pharmaceuticals Price Performance
The business's fifty day moving average is $4.32 and its 200-day moving average is $3.80. The firm has a market cap of $226.41 million, a PE ratio of -1.89 and a beta of 0.80.
Hedge Funds Weigh In On Eledon Pharmaceuticals
Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in shares of Eledon Pharmaceuticals by 418.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,944 shares of the company's stock worth $33,000 after purchasing an additional 6,412 shares in the last quarter. Alpine Global Management LLC bought a new stake in shares of Eledon Pharmaceuticals in the 4th quarter worth approximately $56,000. ADAR1 Capital Management LLC bought a new stake in shares of Eledon Pharmaceuticals in the 4th quarter worth approximately $66,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Eledon Pharmaceuticals in the 4th quarter worth approximately $76,000. Finally, Virtu Financial LLC bought a new stake in shares of Eledon Pharmaceuticals in the 4th quarter worth approximately $82,000. Hedge funds and other institutional investors own 56.77% of the company's stock.
Eledon Pharmaceuticals Company Profile
(
Get Free Report)
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).
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