Charles Schwab Investment Management Inc. Purchases 15,000 Shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Charles Schwab Investment Management Inc. raised its position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 100.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,987 shares of the company’s stock after purchasing an additional 15,000 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.05% of Eledon Pharmaceuticals worth $124,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ELDN. Kera Capital Partners Inc. acquired a new position in shares of Eledon Pharmaceuticals in the fourth quarter valued at approximately $106,000. Inspire Investing LLC bought a new stake in Eledon Pharmaceuticals during the 4th quarter worth approximately $802,000. Finally, Geode Capital Management LLC increased its position in Eledon Pharmaceuticals by 9.7% in the 3rd quarter. Geode Capital Management LLC now owns 378,058 shares of the company’s stock valued at $942,000 after acquiring an additional 33,569 shares during the period. 56.77% of the stock is owned by institutional investors and hedge funds.

Eledon Pharmaceuticals Trading Down 5.0 %

NASDAQ ELDN opened at $3.22 on Wednesday. The firm has a market capitalization of $192.82 million, a PE ratio of -1.60 and a beta of 0.80. The business’s 50-day moving average price is $4.09 and its two-hundred day moving average price is $3.91. Eledon Pharmaceuticals, Inc. has a 12 month low of $1.52 and a 12 month high of $5.54.

Eledon Pharmaceuticals (NASDAQ:ELDN) last announced its earnings results on Thursday, March 20th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.32). During the same quarter last year, the company posted ($1.00) earnings per share. As a group, analysts forecast that Eledon Pharmaceuticals, Inc. will post -0.81 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Guggenheim initiated coverage on shares of Eledon Pharmaceuticals in a report on Tuesday, January 28th. They set a “buy” rating and a $9.00 price target on the stock.

Eledon Pharmaceuticals Company Profile

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).