Elevation Oncology’s (ELEV) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Elevation Oncology (NASDAQ:ELEV) in a report released on Monday morning,Benzinga reports. They currently have a $6.00 price objective on the stock.

Several other analysts also recently issued reports on the company. William Blair restated an “outperform” rating and issued a $5.00 price objective on shares of Elevation Oncology in a research report on Friday. Stephens restated an “overweight” rating and issued a $5.00 target price on shares of Elevation Oncology in a report on Friday. Finally, JMP Securities reiterated a “market outperform” rating and set a $7.00 price target on shares of Elevation Oncology in a report on Thursday, December 19th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $6.83.

Elevation Oncology Stock Performance

Shares of ELEV opened at $0.47 on Monday. Elevation Oncology has a 12-month low of $0.41 and a 12-month high of $5.83. The stock has a market cap of $27.82 million, a P/E ratio of -0.57 and a beta of 1.37. 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 50-day moving average of $0.64 and a two-hundred day moving average of $0.62.

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

Institutional Trading of Elevation Oncology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELEV. Velan Capital Investment Management LP purchased a new position in shares of Elevation Oncology during the 4th quarter worth about $25,000. Two Sigma Advisers LP increased its position in Elevation Oncology by 47.8% during the fourth quarter. Two Sigma Advisers LP now owns 84,400 shares of the company’s stock worth $47,000 after purchasing an additional 27,300 shares during the last quarter. Stonepine Capital Management LLC purchased a new position in Elevation Oncology during the fourth quarter worth approximately $113,000. Millennium Management LLC boosted its holdings in shares of Elevation Oncology by 3.9% in the 4th quarter. Millennium Management LLC now owns 815,916 shares of the company’s stock valued at $459,000 after purchasing an additional 30,466 shares during the last quarter. Finally, Deutsche Bank AG grew its stake in shares of Elevation Oncology by 550.5% during the 4th quarter. Deutsche Bank AG now owns 188,771 shares of the company’s stock valued at $106,000 after buying an additional 159,751 shares during the period. 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.