Eledon Pharmaceuticals, Inc. $ELDN Holdings Decreased by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its stake in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 86.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,600 shares of the company’s stock after selling 152,390 shares during the quarter. Renaissance Technologies LLC’s holdings in Eledon Pharmaceuticals were worth $76,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ELDN. BNP Paribas Financial Markets raised its position in shares of Eledon Pharmaceuticals by 143.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,154 shares of the company’s stock worth $31,000 after buying an additional 7,166 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Eledon Pharmaceuticals during the fourth quarter valued at approximately $36,000. Relyea Zuckerberg Hanson LLC bought a new stake in Eledon Pharmaceuticals during the first quarter worth approximately $37,000. Virtu Financial LLC bought a new stake in Eledon Pharmaceuticals during the fourth quarter worth approximately $39,000. Finally, Cetera Investment Advisers lifted its position in Eledon Pharmaceuticals by 72.9% in the fourth quarter. Cetera Investment Advisers now owns 26,584 shares of the company’s stock worth $40,000 after purchasing an additional 11,207 shares during the period. Institutional investors and hedge funds own 56.77% of the company’s stock.

Eledon Pharmaceuticals Stock Performance

NASDAQ ELDN opened at $3.52 on Friday. Eledon Pharmaceuticals, Inc. has a 1 year low of $1.35 and a 1 year high of $4.60. The business’s fifty day moving average is $3.74 and its two-hundred day moving average is $3.33. The stock has a market capitalization of $286.04 million, a P/E ratio of -3.87 and a beta of 0.98.

Eledon Pharmaceuticals (NASDAQ:ELDN) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.11). On average, research analysts forecast that Eledon Pharmaceuticals, Inc. will post -0.74 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Rodman & Renshaw assumed coverage on Eledon Pharmaceuticals in a research note on Tuesday, July 21st. They issued a “buy” rating and a $12.00 price objective on the stock. Wall Street Zen raised Eledon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research report on Wednesday, June 24th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.67.

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.