Eledon Pharmaceuticals Inc (NASDAQ:ELDN) shares, rose in value, with the stock price up by 16.71% to the previous day’s close as strong demand from buyers drove the stock to $4.19.
Actively observing the price movement in the last trading, the stock closed the session at $3.59, falling within a range of $3.5 and $4.41. The value of beta (5-year monthly) was 0.883. Referring to stock’s 52-week performance, its high was $4.12, and the low was $1.07. On the whole, ELDN has fluctuated by 71.72% over the past month.
With the market capitalization of Eledon Pharmaceuticals Inc currently standing at about $166.15 million, investors are eagerly awaiting this quarter’s results, scheduled for in November.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that ELDN’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the price of ELDN currently trading nearly 38.30% and 50.03% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 82.92, while the 7-day volatility ratio is showing 14.61% which for the 30-day chart, stands at 8.57%. Furthermore, Eledon Pharmaceuticals Inc (ELDN)’s beta value is 0.88, and its average true range (ATR) is 0.31.
A comparison of Eledon Pharmaceuticals Inc (ELDN) with its peers suggests the former has fared considerably weaker in the market. ELDN showed an intraday change of 16.71% in last session, and over the past year, it grew by 165.19%%.
Data on historical trading for Eledon Pharmaceuticals Inc (NASDAQ:ELDN) indicates that the trading volumes over the past 10 days have averaged 1.41 and over the past 3 months, they’ve averaged 218.94K. According to company’s latest data on outstanding shares, there are 39.66 million shares outstanding.
Nearly 0.06% of Eledon Pharmaceuticals Inc’s shares belong to company insiders and institutional investors own 46.16% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.14 million shares as on 2024-10-15, resulting in a short ratio of 2.2. According to the data, the short interest in Eledon Pharmaceuticals Inc (ELDN) stood at 41.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 83332.0. The stock has risen by 132.78% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ELDN stock heading into the next quarter.
