Brokerages Set Elevation Oncology, Inc. (NASDAQ:ELEV) PT at $7.20

Shares of Elevation Oncology, Inc. (NASDAQ:ELEV) have earned a consensus rating of “Buy” from the six analysts that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $7.20.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Velan Capital Investment Management LP acquired a new stake in Elevation Oncology during the 4th quarter worth approximately $25,000. SG Americas Securities LLC purchased a new stake in shares of Elevation Oncology during the third quarter worth $28,000. Bank of America Corp DE raised its stake in shares of Elevation Oncology by 42.5% in the fourth quarter. Bank of America Corp DE now owns 56,839 shares of the company’s stock valued at $32,000 after acquiring an additional 16,962 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Elevation Oncology in the fourth quarter valued at $35,000. Finally, Virtu Financial LLC purchased a new position in Elevation Oncology in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Elevation Oncology Stock Performance

NASDAQ ELEV opened at $0.59 on Friday. The stock has a fifty day simple moving average of $0.65 and a 200-day simple moving average of $0.64. The company has a current ratio of 17.77, a quick ratio of 17.77 and a debt-to-equity ratio of 0.45. The stock has a market cap of $34.88 million, a PE ratio of -0.72 and a beta of 1.31. Elevation Oncology has a twelve month low of $0.50 and a twelve month high of $5.83.

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.