Eledon Pharmaceuticals, Inc. (NASDAQ:ELDN – Get Rating) was the target of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 19,900 shares, a decline of 20.1% from the November 15th total of 24,900 shares. Based on an average daily volume of 20,400 shares, the short-interest ratio is currently 1.0 days. Approximately 0.1% of the company's stock are sold short.
Eledon Pharmaceuticals Price Performance
Shares of Eledon Pharmaceuticals stock traded up $0.08 during trading on Friday, hitting $2.49. 19,788 shares of the stock were exchanged, compared to its average volume of 48,222. The stock has a market cap of $34.25 million, a price-to-earnings ratio of -0.94 and a beta of 1.83. The firm's 50-day moving average price is $2.48 and its 200 day moving average price is $2.88. Eledon Pharmaceuticals has a 12-month low of $2.27 and a 12-month high of $5.14.
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Eledon Pharmaceuticals (NASDAQ:ELDN – Get Rating) last announced its quarterly earnings results on Monday, November 14th. The company reported ($0.73) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.05). As a group, research analysts forecast that Eledon Pharmaceuticals will post -2.61 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Eledon Pharmaceuticals by 1.4% in the first quarter. Vanguard Group Inc. now owns 679,243 shares of the company's stock valued at $2,676,000 after purchasing an additional 9,543 shares during the period. CM Management LLC increased its stake in Eledon Pharmaceuticals by 8.9% in the third quarter. CM Management LLC now owns 245,000 shares of the company's stock valued at $676,000 after purchasing an additional 20,000 shares during the period. Ensign Peak Advisors Inc increased its stake in Eledon Pharmaceuticals by 13.2% in the third quarter. Ensign Peak Advisors Inc now owns 87,286 shares of the company's stock valued at $241,000 after purchasing an additional 10,186 shares during the period. State Street Corp increased its stake in Eledon Pharmaceuticals by 10.5% in the first quarter. State Street Corp now owns 44,692 shares of the company's stock valued at $176,000 after purchasing an additional 4,257 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Eledon Pharmaceuticals by 74.2% during the second quarter. Renaissance Technologies LLC now owns 32,173 shares of the company's stock worth $79,000 after acquiring an additional 13,700 shares during the period. 47.53% of the stock is currently owned by institutional investors and hedge funds.
About Eledon Pharmaceuticals
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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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