Elevation Oncology (NASDAQ:ELEV) Given Market Outperform Rating at JMP Securities

JMP Securities reissued their market outperform rating on shares of Elevation Oncology (NASDAQ:ELEV) in a report published on Friday, Benzinga reports. JMP Securities currently has a $7.00 price target on the stock.

Several other equities research analysts also recently weighed in on ELEV. Stephens started coverage on shares of Elevation Oncology in a research report on Tuesday, May 14th. They set an overweight rating and a $8.00 price target for the company. Wedbush reaffirmed an outperform rating and issued a $8.00 target price on shares of Elevation Oncology in a research report on Friday, May 3rd. HC Wainwright reaffirmed a buy rating and issued a $6.00 target price on shares of Elevation Oncology in a research report on Tuesday, April 9th. Finally, Piper Sandler started coverage on shares of Elevation Oncology in a research report on Friday, May 31st. They issued an overweight rating and a $10.00 target price for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of Buy and an average price target of $7.80.

Elevation Oncology Stock Performance

Shares of ELEV opened at $2.70 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 46.22 and a quick ratio of 46.22. The firm has a 50 day moving average of $3.48 and a 200 day moving average of $3.19. Elevation Oncology has a twelve month low of $0.36 and a twelve month high of $5.83.

Elevation Oncology (NASDAQ:ELEV) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Analysts predict that Elevation Oncology will post -0.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Elevation Oncology

A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Elevation Oncology during the 1st quarter valued at $63,000. Vanguard Group Inc. grew its position in shares of Elevation Oncology by 30.8% during the 1st quarter. Vanguard Group Inc. now owns 1,532,045 shares of the company’s stock valued at $7,859,000 after acquiring an additional 360,799 shares during the period. Affinity Asset Advisors LLC bought a new stake in shares of Elevation Oncology during the 1st quarter valued at $6,509,000. Artal Group S.A. bought a new stake in shares of Elevation Oncology during the 1st quarter valued at $7,762,000. Finally, Darwin Global Management Ltd. bought a new stake in shares of Elevation Oncology during the 1st quarter valued at $11,968,000. Institutional investors own 83.70% of the company’s stock.

About Elevation Oncology

Elevation Oncology, Inc, an oncology company, focuses on the discovery and development of cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs. The company's lead candidate is EO-3021, an antibody-drug conjugate designed to target Claudin 18.2, a clinically validated molecular target.