Eledon Pharmaceuticals, Inc. $ELDN Stock Holdings Decreased by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 86.1% in the 1st quarter, Holdings Channel reports. The fund owned 24,600 shares of the company’s stock after selling 152,390 shares during the period. Renaissance Technologies LLC’s holdings in Eledon Pharmaceuticals were worth $76,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Relyea Zuckerberg Hanson LLC acquired a new stake in Eledon Pharmaceuticals during the 1st quarter valued at $37,000. BNP Paribas Financial Markets lifted its holdings in shares of Eledon Pharmaceuticals by 143.7% in the third quarter. BNP Paribas Financial Markets now owns 12,154 shares of the company’s stock valued at $31,000 after purchasing an additional 7,166 shares in the last quarter. Baker Ellis Asset Management LLC acquired a new stake in shares of Eledon Pharmaceuticals in the first quarter worth $59,000. Millennium Management LLC acquired a new stake in shares of Eledon Pharmaceuticals in the fourth quarter worth $36,000. Finally, Kestra Private Wealth Services LLC purchased a new position in shares of Eledon Pharmaceuticals during the first quarter valued at $77,000. Institutional investors and hedge funds own 56.77% of the company’s stock.

Eledon Pharmaceuticals Trading Down 0.8%

NASDAQ ELDN opened at $3.52 on Friday. Eledon Pharmaceuticals, Inc. has a 1-year low of $1.35 and a 1-year high of $4.60. The firm’s fifty day simple moving average is $3.74 and its 200-day simple moving average is $3.33. The company has a market capitalization of $286.04 million, a PE ratio of -3.87 and a beta of 0.98.

Eledon Pharmaceuticals (NASDAQ:ELDN) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). As a group, analysts predict that Eledon Pharmaceuticals, Inc. will post -0.74 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ELDN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research report on Wednesday, June 24th. Rodman & Renshaw started coverage on Eledon Pharmaceuticals in a research note on Tuesday, July 21st. They set a “buy” rating and a $12.00 target price on the stock. Finally, Wall Street Zen upgraded Eledon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.