Elevation Oncology (NASDAQ:ELEV) Now Covered by William Blair

William Blair assumed coverage on shares of Elevation Oncology (NASDAQ:ELEV) in a research note issued to investors on Friday morning, Marketbeat Ratings reports. The firm issued an outperform rating on the stock.

Several other research firms have also recently weighed in on ELEV. HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Elevation Oncology in a research note on Friday, December 13th. JMP Securities reissued a “market outperform” rating and issued 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 issued a $5.00 price target on shares of Elevation Oncology in a research note on Friday, December 6th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $7.20.

Elevation Oncology Stock Performance

Shares of Elevation Oncology stock opened at $0.66 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 17.77 and a current ratio of 17.77. The business’s 50 day moving average price is $0.61 and its 200 day moving average price is $1.13. The company has a market cap of $39.24 million, a price-to-earnings ratio of -0.81 and a beta of 1.24. Elevation Oncology has a one year low of $0.50 and a one year high of $5.83.

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

Hedge Funds Weigh In On Elevation Oncology

Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in shares of Elevation Oncology during the 2nd quarter worth approximately $103,000. SG Americas Securities LLC purchased a new position in shares of Elevation Oncology during the 3rd quarter worth approximately $28,000. American Century Companies Inc. boosted its position in shares of 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 during the period. JPMorgan Chase & Co. boosted its position in shares of Elevation Oncology by 175.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 61,334 shares of the company’s stock worth $37,000 after purchasing an additional 39,101 shares during the period. Finally, Rhumbline Advisers purchased a new position in shares of Elevation Oncology during the 2nd quarter worth approximately $175,000. Hedge funds and other institutional investors 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.