Elevation Oncology, Inc. (NASDAQ:ELEV) Receives $7.20 Consensus PT from Analysts

Shares of Elevation Oncology, Inc. (NASDAQ:ELEV) have earned an average rating of “Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price objective among brokers that have covered the stock in the last year is $7.20.

Several research analysts have issued reports on ELEV shares. Stephens reiterated an “overweight” rating and issued a $5.00 price target on shares of Elevation Oncology in a report on Friday, December 6th. William Blair began coverage on Elevation Oncology in a report on Friday, January 3rd. They issued an “outperform” rating on the stock. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Elevation Oncology in a research note on Tuesday, January 14th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $7.00 price objective on shares of Elevation Oncology in a research note on Thursday, December 19th.

Institutional Trading of Elevation Oncology

Several institutional investors and hedge funds have recently made changes to their positions in ELEV. SG Americas Securities LLC grew its stake in Elevation Oncology by 33.9% in the 4th quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock valued at $35,000 after purchasing an additional 15,560 shares during the period. American Century Companies Inc. grew its position in Elevation Oncology by 55.7% during the second quarter. American Century Companies Inc. now owns 49,222 shares of the company’s stock valued at $133,000 after buying an additional 17,602 shares during the period. XTX Topco Ltd purchased a new stake in Elevation Oncology during the second quarter worth about $103,000. JPMorgan Chase & Co. boosted its stake in Elevation Oncology by 175.9% in the third quarter. JPMorgan Chase & Co. now owns 61,334 shares of the company’s stock valued at $37,000 after acquiring an additional 39,101 shares during the last quarter. Finally, Palumbo Wealth Management LLC boosted its stake in Elevation Oncology by 294.5% in the fourth quarter. Palumbo Wealth Management LLC now owns 69,105 shares of the company’s stock valued at $39,000 after acquiring an additional 51,590 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Elevation Oncology Price Performance

Shares of ELEV opened at $0.67 on Tuesday. The firm has a market cap of $39.41 million, a PE ratio of -0.81 and a beta of 1.28. Elevation Oncology has a 52-week low of $0.50 and a 52-week high of $5.83. The business’s 50 day moving average price is $0.65 and its two-hundred day moving average price is $0.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 17.77 and a current ratio of 17.77.

Elevation Oncology (NASDAQ:ELEV) last released its earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). On average, equities analysts anticipate that Elevation Oncology will post -0.84 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.