Geode Capital Management LLC Buys 33,569 Shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Geode Capital Management LLC increased its stake in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 9.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 378,058 shares of the company’s stock after buying an additional 33,569 shares during the quarter. Geode Capital Management LLC owned 0.95% of Eledon Pharmaceuticals worth $942,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nantahala Capital Management LLC purchased a new position in Eledon Pharmaceuticals during the 2nd quarter worth $1,584,000. Renaissance Technologies LLC boosted 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 last quarter. Armistice Capital LLC grew its position in Eledon Pharmaceuticals by 1.7% in the 2nd quarter. Armistice Capital LLC now owns 2,336,000 shares of the company’s stock worth $6,167,000 after purchasing an additional 39,000 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in Eledon Pharmaceuticals in the 2nd quarter worth about $80,000. Finally, Clarity Capital Partners LLC purchased a new stake in Eledon Pharmaceuticals in the 3rd quarter valued at about $29,000. 56.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Eledon Pharmaceuticals in a research note on Wednesday, November 20th.

Eledon Pharmaceuticals Stock Performance

ELDN opened at $4.04 on Friday. The firm has a 50-day moving average of $4.41 and a 200 day moving average of $3.35. Eledon Pharmaceuticals, Inc. has a fifty-two week low of $1.52 and a fifty-two week high of $5.54. The firm has a market cap of $241.35 million, a P/E ratio of -2.01 and a beta of 0.79.

Eledon Pharmaceuticals (NASDAQ:ELDN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Equities research analysts predict that Eledon Pharmaceuticals, Inc. will post -0.63 earnings per share for the current fiscal year.

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).