Insider Buying: Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) CEO Purchases 3,000 Shares of Stock

Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) CEO David-Alexandre C. Gros acquired 3,000 shares of the business’s stock in a transaction dated Wednesday, June 9th. The stock was purchased at an average price of $8.01 per share, for a total transaction of $24,030.00. Following the completion of the acquisition, the chief executive officer now owns 3,000 shares in the company, valued at $24,030. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of NASDAQ ELDN opened at $8.66 on Friday. Eledon Pharmaceuticals, Inc. has a fifty-two week low of $6.16 and a fifty-two week high of $27.32. The company’s 50 day simple moving average is $9.85. The firm has a market cap of $123.90 million, a price-to-earnings ratio of -0.80 and a beta of 1.83.

Eledon Pharmaceuticals (NASDAQ:ELDN) last issued its quarterly earnings data on Thursday, May 13th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.20). Research analysts anticipate that Eledon Pharmaceuticals, Inc. will post -2.18 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of ELDN. Cormorant Asset Management LP acquired a new position in shares of Eledon Pharmaceuticals in the 1st quarter worth approximately $15,146,000. EcoR1 Capital LLC acquired a new position in Eledon Pharmaceuticals during the 1st quarter valued at approximately $11,938,000. BVF Inc. IL acquired a new position in Eledon Pharmaceuticals during the 1st quarter valued at approximately $11,914,000. Woodline Partners LP acquired a new position in Eledon Pharmaceuticals during the 1st quarter valued at approximately $9,534,000. Finally, Ikarian Capital LLC acquired a new position in Eledon Pharmaceuticals during the 1st quarter valued at approximately $2,676,000. Institutional investors own 58.16% of the company’s stock.

A number of equities analysts have recently commented on the company. Zacks Investment Research downgraded Eledon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, April 2nd. SVB Leerink cut their price objective on 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 assumed coverage on Eledon Pharmaceuticals in a report on Monday, March 22nd. They issued an “overweight” rating and a $25.00 price objective on the stock. Finally, Lifesci Capital restated 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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