HC Wainwright reaffirmed their buy rating on shares of Eledon Pharmaceuticals (NASDAQ:ELDN - Free Report) in a research note published on Wednesday morning,Benzinga reports. They currently have a $16.00 price target on the stock.
Eledon Pharmaceuticals Price Performance
ELDN traded down $0.03 during trading on Wednesday, reaching $3.85. 423,612 shares of the stock traded hands, compared to its average volume of 198,213. The stock has a market cap of $152.68 million, a price-to-earnings ratio of -1.93 and a beta of 0.76. The stock's 50-day simple moving average is $3.31 and its two-hundred day simple moving average is $2.92. Eledon Pharmaceuticals has a fifty-two week low of $1.11 and a fifty-two week high of $5.54.
Eledon Pharmaceuticals (NASDAQ:ELDN - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). Research analysts anticipate that Eledon Pharmaceuticals will post -0.72 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of ELDN. Clarity Capital Partners LLC bought a new stake in Eledon Pharmaceuticals during the third quarter worth $29,000. Marco Investment Management LLC lifted its stake in Eledon Pharmaceuticals by 22.3% in the 2nd quarter. Marco Investment Management LLC now owns 30,344 shares of the company's stock valued at $80,000 after purchasing an additional 5,535 shares during the last quarter. Dimensional Fund Advisors LP bought a new position in Eledon Pharmaceuticals during the second quarter worth about $80,000. Renaissance Technologies LLC grew its holdings in Eledon Pharmaceuticals by 57.1% during the second quarter. Renaissance Technologies LLC now owns 136,773 shares of the company's stock worth $361,000 after purchasing an additional 49,704 shares during the period. Finally, Geode Capital Management LLC increased its position in Eledon Pharmaceuticals by 9.7% during the third quarter. Geode Capital Management LLC now owns 378,058 shares of the company's stock worth $942,000 after buying an additional 33,569 shares during the last quarter. 56.77% of the stock is currently owned by institutional investors.
About Eledon Pharmaceuticals
(
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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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