Cubist Systematic Strategies LLC Takes $101,000 Position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Cubist Systematic Strategies LLC purchased a new stake in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,568 shares of the company’s stock, valued at approximately $101,000.

A number of other large investors have also made changes to their positions in the stock. Balyasny Asset Management L.P. purchased a new stake in shares of Eledon Pharmaceuticals in the fourth quarter valued at approximately $134,000. Bank of America Corp DE grew its position in shares of Eledon Pharmaceuticals by 1,295.9% in the fourth quarter. Bank of America Corp DE now owns 95,142 shares of the company’s stock valued at $392,000 after purchasing an additional 88,326 shares in the last quarter. Alyeska Investment Group L.P. grew its position in shares of Eledon Pharmaceuticals by 86.7% in the fourth quarter. Alyeska Investment Group L.P. now owns 933,475 shares of the company’s stock valued at $3,846,000 after purchasing an additional 433,475 shares in the last quarter. Allostery Investments LP purchased a new stake in shares of Eledon Pharmaceuticals in the fourth quarter valued at approximately $412,000. Finally, 683 Capital Management LLC purchased a new position in Eledon Pharmaceuticals in the fourth quarter worth approximately $638,000. 56.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Eledon Pharmaceuticals Stock Performance

Shares of Eledon Pharmaceuticals stock opened at $3.04 on Tuesday. The firm has a market capitalization of $182.04 million, a price-to-earnings ratio of -1.51 and a beta of 0.08. Eledon Pharmaceuticals, Inc. has a fifty-two week low of $2.30 and a fifty-two week high of $5.54. The stock has a 50 day moving average of $3.16 and a 200 day moving average of $3.93.

Eledon Pharmaceuticals (NASDAQ:ELDN) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.20. Analysts forecast that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current year.

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).