Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN – Get Rating) was the target of a significant growth in short interest in April. As of April 30th, there was short interest totalling 14,700 shares, a growth of 107.0% from the April 15th total of 7,100 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 29,100 shares, the days-to-cover ratio is presently 0.5 days.
ELDN has been the topic of a number of analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Eledon Pharmaceuticals in a research report on Tuesday, March 29th. Zacks Investment Research raised Eledon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, January 25th. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of Eledon Pharmaceuticals in a report on Friday, January 14th. Finally, Lifesci Capital reissued an “outperform” rating on shares of Eledon Pharmaceuticals in a report on Friday, March 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $29.00.
Shares of NASDAQ:ELDN opened at $2.41 on Friday. Eledon Pharmaceuticals has a 12-month low of $2.27 and a 12-month high of $10.20. The business has a fifty day simple moving average of $3.29 and a 200 day simple moving average of $4.05.
A number of large investors have recently made changes to their positions in the stock. BVF Inc. IL raised its position in Eledon Pharmaceuticals by 22.5% during the 3rd quarter. BVF Inc. IL now owns 1,363,435 shares of the company’s stock worth $8,426,000 after purchasing an additional 250,000 shares during the last quarter. Morgan Stanley raised its position in Eledon Pharmaceuticals by 7,235.6% during the 2nd quarter. Morgan Stanley now owns 851,004 shares of the company’s stock worth $6,732,000 after purchasing an additional 839,403 shares during the last quarter. Point72 Asset Management L.P. raised its position in Eledon Pharmaceuticals by 105.9% during the 4th quarter. Point72 Asset Management L.P. now owns 431,435 shares of the company’s stock worth $1,903,000 after purchasing an additional 221,945 shares during the last quarter. CM Management LLC raised its position in Eledon Pharmaceuticals by 95.7% during the 1st quarter. CM Management LLC now owns 225,000 shares of the company’s stock worth $887,000 after purchasing an additional 110,000 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Eledon Pharmaceuticals by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 127,558 shares of the company’s stock worth $788,000 after acquiring an additional 2,944 shares in the last quarter. 71.41% of the stock is owned by institutional investors and hedge funds.
Eledon Pharmaceuticals Company Profile (Get Rating)
Eledon Pharmaceuticals, Inc, clinical stage biopharmaceutical company, focuses on developing medicines for the patients living with autoimmune disease and amyotrophic lateral sclerosis (ALS), and requiring an organ or cell-based transplant. Its lead product candidate includes AT-1501, a humanized monoclonal antibody to target CD40 Ligand that is a molecule expressed on the surface of human immune system T cells, which is in Phase 2a clinical trials for the treatment of ALS, and Phase 2 clinical trials in islet cell transplantation for the treatment of type 1 diabetes.
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