Diadema Partners LP Acquires New Shares in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Diadema Partners LP acquired a new position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 75,794 shares of the company’s stock, valued at approximately $312,000. Diadema Partners LP owned approximately 0.13% of Eledon Pharmaceuticals at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in Eledon Pharmaceuticals by 9.7% during the 3rd quarter. Geode Capital Management LLC now owns 378,058 shares of the company’s stock worth $942,000 after purchasing an additional 33,569 shares during the period. Kera Capital Partners Inc. acquired a new stake in Eledon Pharmaceuticals during the 4th quarter worth about $106,000. Inspire Investing LLC purchased a new stake in Eledon Pharmaceuticals in the fourth quarter valued at approximately $802,000. Charles Schwab Investment Management Inc. grew its position in Eledon Pharmaceuticals by 100.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,987 shares of the company’s stock worth $124,000 after purchasing an additional 15,000 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Eledon Pharmaceuticals in the 4th quarter valued at about $82,000. Institutional investors own 56.77% of the company’s stock.

Analysts Set New Price Targets

Separately, Guggenheim started coverage on shares of Eledon Pharmaceuticals in a report on Tuesday, January 28th. They issued a “buy” rating and a $9.00 price objective for the company.

Eledon Pharmaceuticals Trading Down 0.3 %

Shares of Eledon Pharmaceuticals stock opened at $2.98 on Tuesday. Eledon Pharmaceuticals, Inc. has a 52 week low of $1.91 and a 52 week high of $5.54. The company’s 50-day moving average price is $3.57 and its two-hundred day moving average price is $3.95. The stock has a market cap of $178.45 million, a PE ratio of -1.48 and a beta of 0.66.

Eledon Pharmaceuticals (NASDAQ:ELDN) last posted its quarterly earnings data on Thursday, March 20th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.32). During the same period last year, the company posted ($1.00) earnings per share. On average, equities analysts predict that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current fiscal year.

Eledon Pharmaceuticals Profile

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).