Elevation Oncology (NASDAQ:ELEV) Earns Overweight Rating from Stephens

Elevation Oncology (NASDAQ:ELEV)‘s stock had its “overweight” rating reaffirmed by investment analysts at Stephens in a research note issued to investors on Friday,Benzinga reports. They presently have a $5.00 target price on the stock.

Elevation Oncology Stock Up 1.5 %

Shares of NASDAQ:ELEV opened at $0.60 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 17.77 and a quick ratio of 17.77. The stock has a market cap of $35.47 million, a P/E ratio of -0.73 and a beta of 1.24. Elevation Oncology has a 1-year low of $0.44 and a 1-year high of $5.83. The firm has a fifty day moving average price of $0.58 and a 200 day moving average price of $1.55.

Elevation Oncology (NASDAQ:ELEV) last announced its earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.02). Sell-side analysts predict that Elevation Oncology will post -0.85 EPS for the current year.

Institutional Trading of Elevation Oncology

Several hedge funds have recently made changes to their positions in ELEV. SG Americas Securities LLC acquired a new position in Elevation Oncology during the third quarter worth $28,000. Barclays PLC increased its position in Elevation Oncology by 302.4% during the third quarter. Barclays PLC now owns 72,077 shares of the company’s stock worth $43,000 after buying an additional 54,167 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Elevation Oncology during the second quarter valued at $103,000. American Century Companies Inc. increased its position in Elevation Oncology by 55.7% during the 2nd quarter. American Century Companies Inc. now owns 49,222 shares of the company’s stock worth $133,000 after purchasing an additional 17,602 shares in the last quarter. Finally, Rhumbline Advisers acquired a new stake in shares of Elevation Oncology during the 2nd quarter worth about $175,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.