Eledon Pharmaceuticals (NASDAQ:ELDN) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Eledon Pharmaceuticals (NASDAQ:ELDN – Get Rating) in a report issued on Monday, PriceTargets.com reports. Cantor Fitzgerald also issued estimates for Eledon Pharmaceuticals’ FY2023 earnings at ($1.83) EPS.

Eledon Pharmaceuticals Stock Up 1.8 %

Shares of ELDN stock opened at $2.25 on Monday. The stock has a market cap of $31.01 million, a price-to-earnings ratio of -0.36 and a beta of 2.12. The business’s fifty day moving average is $2.34 and its 200 day moving average is $2.53. Eledon Pharmaceuticals has a twelve month low of $1.68 and a twelve month high of $3.95.

Institutional Investors Weigh In On Eledon Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELDN. Veritable L.P. purchased a new stake in Eledon Pharmaceuticals in the first quarter worth $31,000. Charles Schwab Investment Management Inc. bought a new stake in Eledon Pharmaceuticals in the first quarter worth $35,000. Dimensional Fund Advisors LP bought a new stake in Eledon Pharmaceuticals in the third quarter worth $50,000. Renaissance Technologies LLC boosted its holdings in Eledon Pharmaceuticals by 35.1% in the first quarter. Renaissance Technologies LLC now owns 18,473 shares of the company’s stock worth $73,000 after acquiring an additional 4,800 shares in the last quarter. Finally, SVB Financial Group bought a new stake in Eledon Pharmaceuticals in the fourth quarter worth $93,000. 45.59% of the stock is owned by hedge funds and other institutional investors.

About Eledon Pharmaceuticals

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Eledon Pharmaceuticals, Inc is a clinical stage biotechnology company using its expertise in targeting the CD40L pathway to develop potential treatments for people requiring an organ or cellular transplant, and for people living with autoimmune and neurodegenerative disease. The firm’s compound in development is AT-1501, a humanized IgG1 anti-CD40L antibody with high affinity for CD40 ligand (CD40L, also called CD154), a well-validated biological target with broad therapeutic potential.