Analysts Issue Forecasts for ELEV FY2029 Earnings

Elevation Oncology, Inc. (NASDAQ:ELEV) – Investment analysts at Wedbush issued their FY2029 earnings per share estimates for shares of Elevation Oncology in a research report issued to clients and investors on Friday, March 7th. Wedbush analyst R. Driscoll forecasts that the company will post earnings per share of $0.07 for the year. The consensus estimate for Elevation Oncology’s current full-year earnings is ($0.84) per share.

Elevation Oncology (NASDAQ:ELEV) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.04.

A number of other equities research analysts also recently commented on the company. William Blair reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Elevation Oncology in a research report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Elevation Oncology in a research report on Tuesday, January 14th. Stephens reissued an “overweight” rating and set a $5.00 price target on shares of Elevation Oncology in a research report on Friday. Finally, JMP Securities reissued a “market outperform” rating and set a $7.00 price target on shares of Elevation Oncology in a research report on Thursday, December 19th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Elevation Oncology currently has an average rating of “Buy” and a consensus price target of $6.83.

Elevation Oncology Stock Performance

Elevation Oncology stock opened at $0.51 on Monday. 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 stock has a fifty day moving average of $0.64 and a two-hundred day moving average of $0.62. The company has a market capitalization of $30.20 million, a price-to-earnings ratio of -0.62 and a beta of 1.37. Elevation Oncology has a fifty-two week low of $0.41 and a fifty-two week high of $5.83.

Institutional Trading of Elevation Oncology

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Velan Capital Investment Management LP bought a new position in shares of Elevation Oncology during the fourth quarter valued at approximately $25,000. Bank of America Corp DE grew its holdings in shares of Elevation Oncology by 42.5% during the fourth quarter. Bank of America Corp DE now owns 56,839 shares of the company’s stock valued at $32,000 after purchasing an additional 16,962 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Elevation Oncology by 33.9% during the fourth 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 position in shares of Elevation Oncology during the fourth quarter valued at approximately $35,000. Finally, Virtu Financial LLC bought a new position in shares of Elevation Oncology during the fourth quarter valued at approximately $36,000. 83.70% of the stock is owned by institutional investors.

About Elevation Oncology

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.