Elevation Oncology, Inc. (NASDAQ:ELEV) Shares Bought by Barclays PLC

Barclays PLC boosted its holdings in shares of Elevation Oncology, Inc. (NASDAQ:ELEV) by 302.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72,077 shares of the company’s stock after acquiring an additional 54,167 shares during the period. Barclays PLC owned about 0.12% of Elevation Oncology worth $43,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Logos Global Management LP grew its holdings in shares of Elevation Oncology by 285.0% during the second quarter. Logos Global Management LP now owns 3,850,000 shares of the company’s stock worth $10,395,000 after buying an additional 2,850,000 shares in the last quarter. Frazier Life Sciences Management L.P. purchased a new stake in shares of Elevation Oncology during the second quarter worth about $7,988,000. Affinity Asset Advisors LLC grew its holdings in shares of Elevation Oncology by 15.8% during the second quarter. Affinity Asset Advisors LLC now owns 1,468,825 shares of the company’s stock worth $3,966,000 after buying an additional 200,000 shares in the last quarter. Sphera Funds Management LTD. grew its holdings in shares of Elevation Oncology by 227.2% during the third quarter. Sphera Funds Management LTD. now owns 1,079,762 shares of the company’s stock worth $648,000 after buying an additional 749,762 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Elevation Oncology by 13.5% during the third quarter. State Street Corp now owns 1,018,026 shares of the company’s stock worth $611,000 after buying an additional 120,993 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Elevation Oncology Price Performance

ELEV opened at $0.65 on Friday. The company has a quick ratio of 17.77, a current ratio of 17.77 and a debt-to-equity ratio of 0.45. Elevation Oncology, Inc. has a 52-week low of $0.50 and a 52-week high of $5.83. The company has a 50 day moving average of $0.62 and a two-hundred day moving average of $1.06. The company has a market cap of $38.43 million, a P/E ratio of -0.79 and a beta of 1.28.

Elevation Oncology (NASDAQ:ELEV) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.02). On average, analysts expect that Elevation Oncology, Inc. will post -0.85 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ELEV shares. William Blair initiated coverage on shares of Elevation Oncology in a report on Friday, January 3rd. They set an “outperform” rating for the company. Stephens restated an “overweight” rating and issued a $5.00 target price on shares of Elevation Oncology in a report on Friday, December 6th. JMP Securities restated a “market outperform” rating and issued a $7.00 target price on shares of Elevation Oncology in a report on Thursday, December 19th. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Elevation Oncology in a report on Friday, December 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Elevation Oncology presently has an average rating of “Buy” and an average price target of $7.20.

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.