Armistice Capital LLC Boosts Stock Position in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN)

Armistice Capital LLC raised its stake in Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 1.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,336,000 shares of the company’s stock after buying an additional 39,000 shares during the quarter. Armistice Capital LLC owned 0.09% of Eledon Pharmaceuticals worth $6,167,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Marco Investment Management LLC grew its stake in Eledon Pharmaceuticals by 22.3% in the second quarter. Marco Investment Management LLC now owns 30,344 shares of the company’s stock valued at $80,000 after purchasing an additional 5,535 shares during the last quarter. CM Management LLC grew its stake in Eledon Pharmaceuticals by 14.3% in the first quarter. CM Management LLC now owns 160,000 shares of the company’s stock valued at $330,000 after purchasing an additional 20,000 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in Eledon Pharmaceuticals in the second quarter valued at about $80,000. Renaissance Technologies LLC grew its stake in Eledon Pharmaceuticals by 57.1% in the second quarter. Renaissance Technologies LLC now owns 136,773 shares of the company’s stock valued at $361,000 after purchasing an additional 49,704 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Eledon Pharmaceuticals by 39.4% in the first quarter. Vanguard Group Inc. now owns 969,121 shares of the company’s stock valued at $1,996,000 after purchasing an additional 273,703 shares during the last quarter. Hedge funds and other institutional investors own 56.77% of the company’s stock.

Eledon Pharmaceuticals Stock Performance

Shares of ELDN stock opened at $2.49 on Thursday. Eledon Pharmaceuticals, Inc. has a fifty-two week low of $1.07 and a fifty-two week high of $3.35. The firm has a market capitalization of $98.75 million, a price-to-earnings ratio of -1.80 and a beta of 0.88. The stock’s 50-day simple moving average is $2.72 and its 200-day simple moving average is $2.46.

Eledon Pharmaceuticals (NASDAQ:ELDN) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.01). As a group, equities analysts forecast that Eledon Pharmaceuticals, Inc. will post -1.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a “buy” rating and set a $16.00 price target on shares of Eledon Pharmaceuticals in a research note on Tuesday, June 4th.

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).