Eledon Pharmaceuticals, Inc. $ELDN Shares Bought by Blue Owl Capital Holdings LP

Blue Owl Capital Holdings LP boosted its position in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 96.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,929,912 shares of the company’s stock after buying an additional 950,000 shares during the quarter. Blue Owl Capital Holdings LP’s holdings in Eledon Pharmaceuticals were worth $2,914,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position in Eledon Pharmaceuticals by 143.7% during the third quarter. BNP Paribas Financial Markets now owns 12,154 shares of the company’s stock valued at $31,000 after buying an additional 7,166 shares during the period. Velan Capital Investment Management LP grew its position in Eledon Pharmaceuticals by 2.4% during the third quarter. Velan Capital Investment Management LP now owns 346,973 shares of the company’s stock valued at $899,000 after buying an additional 8,000 shares during the period. Bank of America Corp DE grew its position in Eledon Pharmaceuticals by 261.8% during the second quarter. Bank of America Corp DE now owns 25,367 shares of the company’s stock valued at $69,000 after buying an additional 18,355 shares during the period. Squarepoint Ops LLC grew its position in Eledon Pharmaceuticals by 116.8% during the third quarter. Squarepoint Ops LLC now owns 36,297 shares of the company’s stock valued at $94,000 after buying an additional 19,553 shares during the period. Finally, JPMorgan Chase & Co. acquired a new stake in Eledon Pharmaceuticals during the second quarter valued at $75,000. Institutional investors and hedge funds own 56.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on ELDN. Wall Street Zen lowered shares of Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research report on Friday, March 27th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Eledon Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $9.67.

Eledon Pharmaceuticals Price Performance

Shares of NASDAQ ELDN opened at $3.89 on Monday. The company’s 50-day simple moving average is $3.38 and its 200-day simple moving average is $2.49. Eledon Pharmaceuticals, Inc. has a 52-week low of $1.35 and a 52-week high of $4.60. The firm has a market cap of $300.27 million, a price-to-earnings ratio of -5.05 and a beta of 0.94.

Eledon Pharmaceuticals (NASDAQ:ELDN) last announced its earnings results on Wednesday, May 13th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.11). Equities research analysts anticipate that Eledon Pharmaceuticals, Inc. will post -0.91 EPS for the current fiscal year.

Eledon Pharmaceuticals 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.