Jefferies Financial Group Inc. purchased a new stake in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,580,625 shares of the company’s stock, valued at approximately $2,387,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets increased its stake in shares of Eledon Pharmaceuticals by 143.7% in the 3rd 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 in the last quarter. Bank of America Corp DE increased its stake in shares of Eledon Pharmaceuticals by 261.8% in the 2nd quarter. Bank of America Corp DE now owns 25,367 shares of the company’s stock valued at $69,000 after purchasing an additional 18,355 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Eledon Pharmaceuticals in the 2nd quarter valued at about $75,000. Invesco Ltd. purchased a new stake in Eledon Pharmaceuticals during the 2nd quarter worth approximately $81,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Eledon Pharmaceuticals during the 2nd quarter worth approximately $87,000. Hedge funds and other institutional investors own 56.77% of the company’s stock.
Wall Street Analyst Weigh In
ELDN has been the subject of several research reports. Wall Street Zen lowered Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research note on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.67.
Eledon Pharmaceuticals Stock Performance
NASDAQ:ELDN opened at $3.89 on Wednesday. Eledon Pharmaceuticals, Inc. has a 12 month low of $1.35 and a 12 month high of $4.60. The stock has a 50 day moving average of $3.42 and a two-hundred day moving average of $2.49. The firm has a market cap of $300.27 million, a P/E ratio of -5.05 and a beta of 0.94.
Eledon Pharmaceuticals (NASDAQ:ELDN – Get Free Report) last posted 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, research analysts forecast that Eledon Pharmaceuticals, Inc. will post -0.91 earnings per share for the current year.
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.
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