Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) CEO David-Alexandre C. Gros Purchases 3,000 Shares of Stock

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) CEO David-Alexandre C. Gros purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 9th. The shares were acquired at an average cost of $8.01 per share, for a total transaction of $24,030.00. Following the purchase, the chief executive officer now owns 3,000 shares of the company’s stock, valued at $24,030. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

ELDN stock opened at $8.66 on Friday. The stock has a market capitalization of $123.90 million, a price-to-earnings ratio of -0.80 and a beta of 1.83. The firm’s 50-day moving average price is $9.85. Eledon Pharmaceuticals, Inc. has a one year low of $6.16 and a one year high of $27.32.

Eledon Pharmaceuticals (NASDAQ:ELDN) last released its quarterly earnings results on Thursday, May 13th. The company reported ($0.57) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.20). On average, sell-side analysts forecast that Eledon Pharmaceuticals, Inc. will post -2.18 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Ingalls & Snyder LLC purchased a new position in Eledon Pharmaceuticals during the 1st quarter worth approximately $547,000. Renaissance Technologies LLC purchased a new position in Eledon Pharmaceuticals during the 1st quarter worth approximately $289,000. Geode Capital Management LLC purchased a new position in Eledon Pharmaceuticals during the 1st quarter worth approximately $1,060,000. Point72 Asset Management L.P. purchased a new position in Eledon Pharmaceuticals during the 1st quarter worth approximately $1,338,000. Finally, Janus Henderson Group PLC purchased a new position in Eledon Pharmaceuticals during the 1st quarter worth approximately $2,246,000. 58.16% of the stock is owned by hedge funds and other institutional investors.

ELDN has been the topic of a number of research analyst reports. SVB Leerink cut their price target on shares of Eledon Pharmaceuticals from $34.00 to $33.00 and set an “outperform” rating on the stock in a report on Tuesday, April 27th. Cantor Fitzgerald initiated coverage on shares of Eledon Pharmaceuticals in a report on Monday, March 22nd. They set an “overweight” rating and a $25.00 target price on the stock. Zacks Investment Research cut shares of Eledon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, April 2nd. Finally, Lifesci Capital reiterated an “outperform” rating on shares of Eledon Pharmaceuticals in a report on Thursday, March 18th.

About Eledon Pharmaceuticals

Eledon Pharmaceuticals, Inc, clinical stage biopharmaceutical company, focuses on developing medicines for the patients living with autoimmune disease and amyotrophic lateral sclerosis (ALS), and requiring an organ or cell-based transplant. Its lead product candidate includes AT-1501, a humanized monoclonal antibody to target CD40 Ligand that is a molecule expressed on the surface of human immune system T cells, which is in Phase 2a clinical trials for the treatment of ALS, and Phase 2 clinical trials in islet cell transplantation for the treatment of type 1 diabetes.

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