Eledon Pharmaceuticals, Inc. $ELDN Shares Sold by Blue Owl Capital Holdings LP

Blue Owl Capital Holdings LP trimmed its holdings in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) by 26.3% during the third quarter, Holdings Channel.com reports. The firm owned 979,912 shares of the company’s stock after selling 350,000 shares during the quarter. Blue Owl Capital Holdings LP’s holdings in Eledon Pharmaceuticals were worth $2,538,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. ProShare Advisors LLC bought a new position in Eledon Pharmaceuticals in the 2nd quarter valued at about $33,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Eledon Pharmaceuticals in the 2nd quarter worth approximately $37,000. Velan Capital Investment Management LP lifted its stake in shares of Eledon Pharmaceuticals by 4.6% in the 2nd quarter. Velan Capital Investment Management LP now owns 338,973 shares of the company’s stock worth $919,000 after acquiring an additional 15,000 shares during the period. Bank of America Corp DE boosted its holdings in shares of Eledon Pharmaceuticals by 261.8% in the second quarter. Bank of America Corp DE now owns 25,367 shares of the company’s stock valued at $69,000 after acquiring an additional 18,355 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of Eledon Pharmaceuticals during the second quarter valued at approximately $75,000. 56.77% of the stock is currently owned by institutional investors.

Eledon Pharmaceuticals Trading Up 6.1%

Shares of NASDAQ ELDN opened at $2.78 on Friday. Eledon Pharmaceuticals, Inc. has a twelve month low of $1.35 and a twelve month high of $4.60. The company has a market capitalization of $166.61 million, a price-to-earnings ratio of -2.62 and a beta of 0.84. The firm has a 50-day moving average of $2.10 and a two-hundred day moving average of $2.33.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ELDN shares. Guggenheim cut their target price on Eledon Pharmaceuticals from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research report on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Eledon Pharmaceuticals has a consensus rating of “Hold” and a consensus target price 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.