HC Wainwright Has Optimistic Outlook of ELEV Q1 Earnings

Elevation Oncology, Inc. (NASDAQ:ELEV) – Investment analysts at HC Wainwright upped their Q1 2025 EPS estimates for Elevation Oncology in a research report issued on Monday, March 10th. HC Wainwright analyst S. Ramakanth now forecasts that the company will post earnings of ($0.21) per share for the quarter, up from their prior estimate of ($0.23). HC Wainwright has a “Buy” rating and a $6.00 price objective on the stock. The consensus estimate for Elevation Oncology’s current full-year earnings is ($0.84) per share. HC Wainwright also issued estimates for Elevation Oncology’s Q2 2025 earnings at ($0.22) EPS, Q3 2025 earnings at ($0.23) EPS, FY2025 earnings at ($0.90) EPS and FY2026 earnings at ($0.90) EPS.

Other equities analysts have also issued reports about the stock. Stephens reiterated an “overweight” rating and issued a $5.00 price objective on shares of Elevation Oncology in a research report on Friday, March 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $7.00 target price on shares of Elevation Oncology in a report on Thursday, December 19th. Finally, William Blair reissued an “outperform” rating and set a $5.00 price target on shares of Elevation Oncology in a report on Friday, March 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $6.83.

Elevation Oncology Trading Up 3.2 %

NASDAQ:ELEV opened at $0.51 on Wednesday. Elevation Oncology has a 12-month low of $0.41 and a 12-month high of $5.83. 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’s 50 day simple moving average is $0.63 and its 200-day simple moving average is $0.62. The firm has a market cap of $30.21 million, a P/E ratio of -0.62 and a beta of 1.37.

Elevation Oncology (NASDAQ:ELEV) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.04.

Institutional Investors Weigh In On Elevation Oncology

Several institutional investors have recently made changes to their positions in ELEV. Frazier Life Sciences Management L.P. lifted its stake in shares of Elevation Oncology by 102.6% in the third quarter. Frazier Life Sciences Management L.P. now owns 5,993,579 shares of the company’s stock valued at $3,596,000 after purchasing an additional 3,035,000 shares during the period. Geode Capital Management LLC increased its holdings in Elevation Oncology by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 1,157,572 shares of the company’s stock valued at $651,000 after buying an additional 47,487 shares in the last quarter. Sphera Funds Management LTD. lifted its position in shares of Elevation Oncology by 227.2% during the 3rd quarter. Sphera Funds Management LTD. now owns 1,079,762 shares of the company’s stock valued at $648,000 after acquiring an additional 749,762 shares during the period. State Street Corp lifted its position in shares of Elevation Oncology by 13.5% during the 3rd quarter. State Street Corp now owns 1,018,026 shares of the company’s stock valued at $611,000 after acquiring an additional 120,993 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Elevation Oncology by 3.9% during the 4th quarter. Millennium Management LLC now owns 815,916 shares of the company’s stock worth $459,000 after acquiring an additional 30,466 shares in the last quarter. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.