Eledon Pharmaceuticals, Inc. $ELDN Shares Acquired by CM Management LLC

CM Management LLC boosted its stake in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 60.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 600,000 shares of the company’s stock after acquiring an additional 225,000 shares during the quarter. Eledon Pharmaceuticals accounts for about 1.3% of CM Management LLC’s portfolio, making the stock its 28th biggest holding. CM Management LLC’s holdings in Eledon Pharmaceuticals were worth $1,554,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. First Light Asset Management LLC lifted its holdings in Eledon Pharmaceuticals by 11.7% during the second quarter. First Light Asset Management LLC now owns 2,600,498 shares of the company’s stock valued at $7,047,000 after purchasing an additional 271,730 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Eledon Pharmaceuticals by 107.6% in the second quarter. Geode Capital Management LLC now owns 1,383,940 shares of the company’s stock valued at $3,751,000 after purchasing an additional 717,223 shares during the period. Velan Capital Investment Management LP increased its stake in shares of Eledon Pharmaceuticals by 4.6% during the second quarter. Velan Capital Investment Management LP now owns 338,973 shares of the company’s stock worth $919,000 after purchasing an additional 15,000 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Eledon Pharmaceuticals by 78.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 258,106 shares of the company’s stock worth $875,000 after purchasing an additional 113,261 shares during the last quarter. Finally, Jane Street Group LLC raised its position in shares of Eledon Pharmaceuticals by 83.7% during the 1st quarter. Jane Street Group LLC now owns 224,600 shares of the company’s stock worth $761,000 after purchasing an additional 102,325 shares during the last quarter. 56.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ELDN shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a report on Monday, December 29th. Guggenheim reduced their target price on Eledon Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 18th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Eledon Pharmaceuticals presently has an average rating of “Hold” and an average target price of $9.67.

Eledon Pharmaceuticals Stock Up 6.1%

Shares of ELDN opened at $2.78 on Friday. 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 PE ratio of -2.62 and a beta of 0.84. The firm’s fifty day moving average is $2.10 and its two-hundred day moving average is $2.33.

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.