Eledon Pharmaceuticals (NASDAQ:ELDN) Issues Earnings Results, Misses Estimates By $0.11 EPS

Eledon Pharmaceuticals (NASDAQ:ELDN) posted its earnings results on Wednesday. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.11), FiscalAI reports.

Eledon Pharmaceuticals Trading Down 3.8%

ELDN opened at $3.80 on Friday. The stock has a fifty day moving average price of $3.28 and a 200 day moving average price of $2.52. Eledon Pharmaceuticals has a 1 year low of $1.35 and a 1 year high of $4.60. The stock has a market cap of $293.32 million, a price-to-earnings ratio of -4.94 and a beta of 0.94.

Institutional Investors Weigh In On Eledon Pharmaceuticals

Large investors have recently made changes to their positions in the company. ADAR1 Capital Management LLC bought a new position in Eledon Pharmaceuticals during the fourth quarter valued at approximately $2,751,000. Ensign Peak Advisors Inc grew its position in Eledon Pharmaceuticals by 94.9% in the fourth quarter. Ensign Peak Advisors Inc now owns 2,464,919 shares of the company’s stock worth $3,722,000 after acquiring an additional 1,200,000 shares in the last quarter. AWM Investment Company Inc. bought a new stake in Eledon Pharmaceuticals in the fourth quarter worth approximately $1,661,000. Sphera Funds Management LTD. increased its stake in shares of Eledon Pharmaceuticals by 97.4% during the 4th quarter. Sphera Funds Management LTD. now owns 2,132,131 shares of the company’s stock worth $3,220,000 after purchasing an additional 1,051,898 shares during the last quarter. Finally, Zimmer Partners LP increased its stake in shares of Eledon Pharmaceuticals by 86.1% during the 3rd quarter. Zimmer Partners LP now owns 1,825,000 shares of the company’s stock worth $4,727,000 after purchasing an additional 844,318 shares during the last quarter. Institutional investors own 56.77% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a report on Friday, March 27th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $9.67.

Eledon Pharmaceuticals Company Profile

Eledon Pharmaceuticals, Inc (NASDAQ:ELDN) is a clinical-stage biopharmaceutical company focused on the discovery and development of therapies for diseases characterized by smooth muscle dysfunction. The company leverages a proprietary ion-channel modulation platform to identify and optimize small-molecule compounds that can either restore or inhibit smooth muscle activity, with the goal of addressing gastrointestinal, hepatic and cardiovascular disorders.

Eledon’s pipeline comprises several preclinical and early-phase clinical programs targeting high-unmet-need indications.