Elevation Oncology’s (ELEV) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Elevation Oncology (NASDAQ:ELEV) in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a $7.00 price target on the stock.

ELEV has been the subject of several other reports. HC Wainwright restated a buy rating and set a $6.00 price objective on shares of Elevation Oncology in a research report on Tuesday, April 9th. Wedbush restated an outperform rating and set a $8.00 price objective on shares of Elevation Oncology in a research report on Friday, May 3rd. Stephens assumed coverage on Elevation Oncology in a research report on Tuesday, May 14th. They issued an overweight rating and a $8.00 target price for the company. Finally, Piper Sandler assumed coverage on Elevation Oncology in a research report on Friday, May 31st. They issued an overweight rating and a $10.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $7.80.

Elevation Oncology Price Performance

Shares of ELEV stock opened at $2.89 on Monday. The company has a quick ratio of 46.22, a current ratio of 46.22 and a debt-to-equity ratio of 0.41. Elevation Oncology has a twelve month low of $0.36 and a twelve month high of $5.83. The company has a market cap of $157.91 million, a P/E ratio of -2.78 and a beta of 1.39. The business has a fifty day simple moving average of $3.23 and a 200 day simple moving average of $3.42.

Elevation Oncology (NASDAQ:ELEV) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). On average, sell-side analysts forecast that Elevation Oncology will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Elevation Oncology

Several large investors have recently bought and sold shares of ELEV. SG Americas Securities LLC bought a new position in shares of Elevation Oncology during the first quarter worth about $63,000. Vanguard Group Inc. raised its position in shares of Elevation Oncology by 30.8% during the first quarter. Vanguard Group Inc. now owns 1,532,045 shares of the company’s stock worth $7,859,000 after acquiring an additional 360,799 shares during the last quarter. Affinity Asset Advisors LLC bought a new position in shares of Elevation Oncology during the first quarter worth about $6,509,000. Darwin Global Management Ltd. bought a new position in shares of Elevation Oncology during the first quarter worth about $11,968,000. Finally, Artal Group S.A. bought a new position in shares of Elevation Oncology during the first quarter worth about $7,762,000. 83.70% of the stock is currently owned by institutional investors.

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.