Balyasny Asset Management L.P. Invests $134,000 in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Balyasny Asset Management L.P. purchased a new position in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 32,623 shares of the company’s stock, valued at approximately $134,000. Balyasny Asset Management L.P. owned about 0.05% of Eledon Pharmaceuticals as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ELDN. Bank of America Corp DE lifted its position in Eledon Pharmaceuticals by 1,295.9% during the 4th quarter. Bank of America Corp DE now owns 95,142 shares of the company’s stock worth $392,000 after acquiring an additional 88,326 shares during the period. Alyeska Investment Group L.P. lifted its holdings in shares of Eledon Pharmaceuticals by 86.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 933,475 shares of the company’s stock worth $3,846,000 after purchasing an additional 433,475 shares during the period. Allostery Investments LP acquired a new stake in shares of Eledon Pharmaceuticals during the fourth quarter worth $412,000. 683 Capital Management LLC purchased a new position in Eledon Pharmaceuticals in the 4th quarter valued at $638,000. Finally, Acuta Capital Partners LLC acquired a new position in Eledon Pharmaceuticals in the 4th quarter valued at $971,000. Institutional investors and hedge funds own 56.77% of the company’s stock.

Eledon Pharmaceuticals Trading Down 0.7%

Shares of ELDN opened at $2.87 on Monday. The stock’s 50 day moving average is $3.17 and its two-hundred day moving average is $3.94. Eledon Pharmaceuticals, Inc. has a twelve month low of $2.30 and a twelve month high of $5.54. The firm has a market capitalization of $171.86 million, a PE ratio of -1.43 and a beta of 0.08.

Eledon Pharmaceuticals (NASDAQ:ELDN) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.20. On average, sell-side analysts predict that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current year.

Analyst Upgrades and Downgrades

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

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).