Eledon Pharmaceuticals (NASDAQ:ELDN) Stock Rating Reaffirmed by HC Wainwright

Eledon Pharmaceuticals (NASDAQ:ELDN)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They presently have a $13.00 target price on the stock.

A number of other research analysts also recently issued reports on ELDN. Cantor Fitzgerald reiterated an “overweight” rating and set a $9.00 target price on shares of Eledon Pharmaceuticals in a research report on Tuesday, August 22nd. Noble Financial started coverage on shares of Eledon Pharmaceuticals in a research report on Wednesday, September 27th. They set an “outperform” rating and a $10.00 target price on the stock.

Eledon Pharmaceuticals Stock Performance

Shares of NASDAQ ELDN opened at $1.25 on Monday. The company has a market capitalization of $30.25 million, a P/E ratio of -0.22 and a beta of 1.82. Eledon Pharmaceuticals has a 52-week low of $1.07 and a 52-week high of $3.70. The company’s 50 day moving average price is $1.35 and its 200-day moving average price is $1.56.

Institutional Trading of Eledon Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of ELDN. BVF Inc. IL increased its stake in Eledon Pharmaceuticals by 86.0% during the 2nd quarter. BVF Inc. IL now owns 4,326,710 shares of the company’s stock valued at $5,928,000 after purchasing an additional 2,000,000 shares in the last quarter. Royal Bank of Canada bought a new stake in Eledon Pharmaceuticals during the 2nd quarter valued at $374,000. SVB Financial Group bought a new stake in Eledon Pharmaceuticals during the 4th quarter valued at $93,000. Geode Capital Management LLC increased its stake in Eledon Pharmaceuticals by 31.4% during the 2nd quarter. Geode Capital Management LLC now owns 169,650 shares of the company’s stock valued at $232,000 after purchasing an additional 40,499 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Eledon Pharmaceuticals by 87.7% during the 2nd quarter. Renaissance Technologies LLC now owns 60,373 shares of the company’s stock valued at $83,000 after purchasing an additional 28,200 shares in the last quarter. Institutional investors own 39.40% of the company’s stock.

Eledon Pharmaceuticals Company 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).