Eledon Pharmaceuticals, Inc. $ELDN Stock Position Decreased by Blue Owl Capital Holdings LP

Blue Owl Capital Holdings LP decreased its holdings in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 26.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 979,912 shares of the company’s stock after selling 350,000 shares during the quarter. Blue Owl Capital Holdings LP owned approximately 1.64% of Eledon Pharmaceuticals worth $2,538,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in Eledon Pharmaceuticals in the third quarter valued at approximately $102,000. Bank of America Corp DE raised its position in shares of Eledon Pharmaceuticals by 261.8% during the 2nd quarter. Bank of America Corp DE now owns 25,367 shares of the company’s stock worth $69,000 after purchasing an additional 18,355 shares during the period. First Light Asset Management LLC lifted its holdings in shares of Eledon Pharmaceuticals by 11.7% in the 2nd quarter. First Light Asset Management LLC now owns 2,600,498 shares of the company’s stock worth $7,047,000 after purchasing an additional 271,730 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Eledon Pharmaceuticals in the 2nd quarter worth approximately $87,000. Finally, Velan Capital Investment Management LP boosted its position in Eledon Pharmaceuticals by 4.6% during the 2nd quarter. Velan Capital Investment Management LP now owns 338,973 shares of the company’s stock valued at $919,000 after purchasing an additional 15,000 shares during the period. Institutional investors own 56.77% of the company’s stock.

Eledon Pharmaceuticals Trading Up 6.1%

NASDAQ ELDN opened at $2.78 on Friday. The company has a 50-day moving average price of $2.10 and a two-hundred day moving average price of $2.33. Eledon Pharmaceuticals, Inc. has a 52 week low of $1.35 and a 52 week high of $4.60. The stock has a market cap of $166.61 million, a price-to-earnings ratio of -2.62 and a beta of 0.84.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ELDN. Guggenheim lowered their price objective on Eledon Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Eledon Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $9.67.

About Eledon Pharmaceuticals

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.