Eledon Pharmaceuticals Inc [NASDAQ: ELDN] loss -4.66% or -0.21 points to close at $4.30 with a heavy trading volume of 258620 shares.
The daily chart for ELDN points out that the company has recorded 76.95% gains over the past six months.
If we look at the average trading volume of 587.52K shares, ELDN reached to a volume of 258620 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Eledon Pharmaceuticals Inc [ELDN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ELDN shares is $13.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ELDN stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Cantor Fitzgerald have made an estimate for Eledon Pharmaceuticals Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 13, 2022. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on March 23, 2021, representing the official price target for Eledon Pharmaceuticals Inc stock.
The Average True Range (ATR) for Eledon Pharmaceuticals Inc is set at 0.37 The Price to Book ratio for the last quarter was 2.33, with the Price to Cash per share for the same quarter was set at 1.31.
Trading performance analysis for ELDN stock
Eledon Pharmaceuticals Inc [ELDN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.37. With this latest performance, ELDN shares dropped by -6.52% in over the last four-week period, additionally plugging by 76.95% over the last 6 months – not to mention a rise of 122.22% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ELDN stock in for the last two-week period is set at 48.53, with the RSI for the last a single of trading hit 46.42, and the three-weeks RSI is set at 50.28 for Eledon Pharmaceuticals Inc [ELDN]. The present Moving Average for the last 50 days of trading for this stock 4.41, while it was recorded at 4.51 for the last single week of trading, and 3.03 for the last 200 days.
Eledon Pharmaceuticals Inc [ELDN]: A deeper dive into fundamental analysis
Eledon Pharmaceuticals Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.53 and a Current Ratio set at 6.53.
An analysis of Institutional ownership at Eledon Pharmaceuticals Inc [ELDN]
The top three institutional holders of ELDN stocks are: BVF INC/IL with ownership of 6.29 million shares, which is approximately 20.985%. ARMISTICE CAPITAL, LLC, holding 2.34 million shares of the stock with an approximate value of $$6.17 million in ELDN stocks shares; and ARMISTICE CAPITAL, LLC, currently with $$5.57 million in ELDN stock with ownership which is approximately 7.0348%.
