SG Americas Securities LLC Makes New $28,000 Investment in Elevation Oncology, Inc. (NASDAQ:ELEV)

SG Americas Securities LLC acquired a new position in shares of Elevation Oncology, Inc. (NASDAQ:ELEV) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 45,907 shares of the company’s stock, valued at approximately $28,000. SG Americas Securities LLC owned approximately 0.08% of Elevation Oncology as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ELEV. Vanguard Group Inc. boosted its holdings in Elevation Oncology by 30.8% in the first quarter. Vanguard Group Inc. now owns 1,532,045 shares of the company’s stock valued at $7,859,000 after purchasing an additional 360,799 shares in the last quarter. Affinity Asset Advisors LLC purchased a new stake in shares of Elevation Oncology during the 1st quarter worth approximately $6,509,000. Darwin Global Management Ltd. acquired a new position in shares of Elevation Oncology in the 1st quarter valued at $11,968,000. Artal Group S.A. purchased a new position in shares of Elevation Oncology in the 1st quarter valued at $7,762,000. Finally, Farallon Capital Management LLC acquired a new stake in Elevation Oncology during the 1st quarter worth $19,939,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ELEV. Wedbush restated an “outperform” rating and issued a $8.00 price objective on shares of Elevation Oncology in a research note on Tuesday, August 6th. JMP Securities reissued a “market outperform” rating and issued a $7.00 target price on shares of Elevation Oncology in a research report on Monday, July 15th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Elevation Oncology in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $7.80.

Elevation Oncology Price Performance

Shares of NASDAQ:ELEV opened at $0.59 on Wednesday. Elevation Oncology, Inc. has a one year low of $0.36 and a one year high of $5.83. The stock has a market capitalization of $35.05 million, a price-to-earnings ratio of -0.70 and a beta of 1.22. The company has a 50-day simple moving average of $0.62 and a 200-day simple moving average of $2.15. The company has a debt-to-equity ratio of 0.38, a quick ratio of 41.10 and a current ratio of 41.10.

Elevation Oncology (NASDAQ:ELEV) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.05. On average, analysts predict that Elevation Oncology, Inc. will post -0.82 EPS for the current year.

Elevation Oncology Company Profile

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.