Barclays PLC Buys New Shares in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Barclays PLC acquired a new stake in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) during the 4th quarter, Holdings Channel reports. The firm acquired 70,000 shares of the company’s stock, valued at approximately $288,000.

Several other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of Eledon Pharmaceuticals by 75.4% during the fourth quarter. Geode Capital Management LLC now owns 663,101 shares of the company’s stock valued at $2,733,000 after purchasing an additional 285,043 shares during the period. Inspire Investing LLC acquired a new position in shares of Eledon Pharmaceuticals during the fourth quarter valued at about $802,000. Renaissance Technologies LLC raised its holdings in shares of Eledon Pharmaceuticals by 8.3% during the fourth quarter. Renaissance Technologies LLC now owns 147,173 shares of the company’s stock valued at $606,000 after purchasing an additional 11,300 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Eledon Pharmaceuticals by 100.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 29,987 shares of the company’s stock worth $124,000 after acquiring an additional 15,000 shares during the last quarter. Finally, Kera Capital Partners Inc. bought a new position in Eledon Pharmaceuticals in the 4th quarter valued at about $106,000. Institutional investors and hedge funds own 56.77% of the company’s stock.

Eledon Pharmaceuticals Trading Down 8.8%

NASDAQ ELDN opened at $2.89 on Monday. The business has a fifty day simple moving average of $3.26 and a 200 day simple moving average of $3.98. Eledon Pharmaceuticals, Inc. has a 12 month low of $2.00 and a 12 month high of $5.54. The firm has a market capitalization of $173.06 million, a P/E ratio of -1.44 and a beta of 0.08.

Eledon Pharmaceuticals (NASDAQ:ELDN) last posted its earnings results on Thursday, March 20th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.32). During the same period in the previous year, the company posted ($1.00) EPS. As a group, sell-side analysts predict that Eledon Pharmaceuticals, Inc. will post -0.81 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Guggenheim initiated coverage on Eledon Pharmaceuticals in a report on Tuesday, January 28th. They set a “buy” rating and a $9.00 price objective 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).