Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) Given Average Recommendation of “Hold” by Brokerages

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) has been given an average rating of “Hold” by the five research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $9.6667.

Several brokerages have commented on ELDN. Weiss Ratings restated a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a report on Monday, December 29th. Guggenheim dropped their price objective on shares of Eledon Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Kera Capital Partners Inc. boosted its position in Eledon Pharmaceuticals by 54.3% during the 4th quarter. Kera Capital Partners Inc. now owns 39,770 shares of the company’s stock worth $60,000 after acquiring an additional 14,000 shares during the last quarter. Virtu Financial LLC acquired a new position in Eledon Pharmaceuticals during the fourth quarter worth $39,000. XTX Topco Ltd grew its position in Eledon Pharmaceuticals by 867.1% in the fourth quarter. XTX Topco Ltd now owns 124,247 shares of the company’s stock valued at $188,000 after purchasing an additional 111,399 shares in the last quarter. Zimmer Partners LP increased its stake in Eledon Pharmaceuticals by 30.6% in the 4th quarter. Zimmer Partners LP now owns 2,384,228 shares of the company’s stock valued at $3,600,000 after buying an additional 559,228 shares during the last quarter. Finally, Sphera Funds Management LTD. lifted its position in Eledon Pharmaceuticals by 97.4% during the 4th quarter. Sphera Funds Management LTD. now owns 2,132,131 shares of the company’s stock worth $3,220,000 after buying an additional 1,051,898 shares in the last quarter. 56.77% of the stock is owned by institutional investors and hedge funds.

Eledon Pharmaceuticals Price Performance

Shares of Eledon Pharmaceuticals stock opened at $2.62 on Monday. The company has a market capitalization of $157.02 million, a P/E ratio of -2.47 and a beta of 0.84. The business has a 50-day moving average of $2.00 and a two-hundred day moving average of $2.32. Eledon Pharmaceuticals has a 1 year low of $1.35 and a 1 year high of $4.60.

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.