Triumph Capital Management Buys Shares of 303,443 Eledon Pharmaceuticals, Inc. $ELDN

Triumph Capital Management purchased a new position in shares of Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 303,443 shares of the company’s stock, valued at approximately $1,196,000. Triumph Capital Management owned 0.37% of Eledon Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ELDN. ADAR1 Capital Management LLC purchased a new position in shares of Eledon Pharmaceuticals in the second quarter valued at approximately $2,552,000. AWM Investment Company Inc. purchased a new stake in Eledon Pharmaceuticals during the 2nd quarter worth approximately $4,334,000. Catalio Capital Management LP lifted its holdings in Eledon Pharmaceuticals by 18.7% during the 4th quarter. Catalio Capital Management LP now owns 1,259,820 shares of the company’s stock worth $1,902,000 after buying an additional 198,688 shares in the last quarter. Bank of America Corp DE lifted its holdings in Eledon Pharmaceuticals by 1,346.9% during the 1st quarter. Bank of America Corp DE now owns 869,544 shares of the company’s stock worth $2,678,000 after buying an additional 809,446 shares in the last quarter. Finally, Defilade Capital Management L.P. boosted its position in Eledon Pharmaceuticals by 8.3% in the 1st quarter. Defilade Capital Management L.P. now owns 3,564,127 shares of the company’s stock valued at $10,978,000 after buying an additional 273,677 shares during the period. 56.77% of the stock is currently owned by hedge funds and other institutional investors.

Eledon Pharmaceuticals Stock Down 6.9%

Shares of NASDAQ:ELDN opened at $2.98 on Tuesday. The firm’s 50 day moving average price is $3.68 and its 200 day moving average price is $3.39. The stock has a market cap of $242.15 million, a price-to-earnings ratio of -3.27 and a beta of 0.98. Eledon Pharmaceuticals, Inc. has a fifty-two week low of $1.35 and a fifty-two week high of $4.60.

Eledon Pharmaceuticals (NASDAQ:ELDN) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.11). On average, equities analysts anticipate that Eledon Pharmaceuticals, Inc. will post -0.74 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on ELDN. Wall Street Zen downgraded shares of Eledon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Sunday, August 23rd. Rodman & Renshaw initiated coverage on Eledon Pharmaceuticals in a report on Tuesday, July 21st. They issued a “buy” rating and a $12.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Eledon Pharmaceuticals in a research note on Wednesday, June 24th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $9.67.

Eledon Pharmaceuticals 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.