Elevation Oncology, Inc. (NASDAQ:ELEV) Receives $6.83 Average Target Price from Analysts

Elevation Oncology, Inc. (NASDAQ:ELEV) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $3.96.

Several equities research analysts recently issued reports on ELEV shares. HC Wainwright dropped their price target on shares of Elevation Oncology from $6.00 to $1.00 and set a “buy” rating on the stock in a research note on Friday. Citizens Jmp downgraded shares of Elevation Oncology from an “outperform” rating to a “market perform” rating in a research note on Friday. William Blair reaffirmed an “outperform” rating and set a $5.00 price target on shares of Elevation Oncology in a research note on Friday, March 7th. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price target on shares of Elevation Oncology in a research note on Thursday, December 19th. Finally, Stephens reissued an “overweight” rating and set a $5.00 price objective on shares of Elevation Oncology in a report on Friday, March 7th.

Elevation Oncology Stock Performance

Shares of ELEV stock opened at $0.30 on Wednesday. The company’s fifty day simple moving average is $0.59 and its 200-day simple moving average is $0.60. Elevation Oncology has a 52 week low of $0.24 and a 52 week 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 company has a market cap of $17.77 million, a PE ratio of -0.37 and a beta of 1.37.

Elevation Oncology (NASDAQ:ELEV) last issued its earnings results on Thursday, March 6th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. As a group, equities research analysts anticipate that Elevation Oncology will post -0.84 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ELEV. Velan Capital Investment Management LP acquired a new position in shares of Elevation Oncology in the 4th quarter valued at about $25,000. Bank of America Corp DE boosted its holdings in shares of Elevation Oncology by 42.5% in the 4th quarter. Bank of America Corp DE now owns 56,839 shares of the company’s stock valued at $32,000 after buying an additional 16,962 shares during the period. SG Americas Securities LLC lifted its position 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 last quarter. Two Sigma Securities LLC bought a new stake in Elevation Oncology in the 4th quarter valued at about $35,000. Finally, Virtu Financial LLC bought a new stake in Elevation Oncology in the 4th quarter valued at about $36,000. 83.70% of the stock is owned by institutional investors and hedge funds.

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.