Geode Capital Management LLC Grows Stock Position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Geode Capital Management LLC grew its stake in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 9.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 378,058 shares of the company’s stock after purchasing an additional 33,569 shares during the quarter. Geode Capital Management LLC’s holdings in Eledon Pharmaceuticals were worth $942,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ELDN. Nantahala Capital Management LLC purchased a new stake in Eledon Pharmaceuticals during the 2nd quarter valued at $1,584,000. Renaissance Technologies LLC raised its stake in shares of Eledon Pharmaceuticals by 57.1% during the second quarter. Renaissance Technologies LLC now owns 136,773 shares of the company’s stock valued at $361,000 after acquiring an additional 49,704 shares during the last quarter. Armistice Capital LLC boosted its holdings in shares of Eledon Pharmaceuticals by 1.7% during the second quarter. Armistice Capital LLC now owns 2,336,000 shares of the company’s stock worth $6,167,000 after purchasing an additional 39,000 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of Eledon Pharmaceuticals in the second quarter worth about $80,000. Finally, Clarity Capital Partners LLC purchased a new position in Eledon Pharmaceuticals during the 3rd quarter valued at about $29,000. Institutional investors own 56.77% of the company’s stock.

Eledon Pharmaceuticals Trading Down 6.0 %

NASDAQ:ELDN opened at $4.04 on Friday. The company has a 50-day moving average price of $4.41 and a 200-day moving average price of $3.35. The stock has a market cap of $241.35 million, a price-to-earnings ratio of -2.01 and a beta of 0.79. Eledon Pharmaceuticals, Inc. has a 12 month low of $1.52 and a 12 month high of $5.54.

Eledon Pharmaceuticals (NASDAQ:ELDN) last released its earnings results on Tuesday, November 12th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). Equities analysts forecast that Eledon Pharmaceuticals, Inc. will post -0.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Eledon Pharmaceuticals in a research report on Wednesday, November 20th.

About Eledon Pharmaceuticals

Eledon Pharmaceuticals, Inc operates as a clinical stage biotechnology company. The company uses its immunology expertise in targeting the CD40 Ligand (CD40L, also called CD154) pathway to develop therapies to protect transplanted organs and prevent rejection, and to treat amyotrophic lateral sclerosis (ALS).