Elevation Oncology (NASDAQ:ELEV) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Elevation Oncology (NASDAQ:ELEV) in a research report sent to investors on Friday,Benzinga reports. The firm currently has a $6.00 price target on the stock.

Separately, Stephens reiterated an “overweight” rating and set a $5.00 price target on shares of Elevation Oncology in a research report on Friday, December 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Elevation Oncology presently has an average rating of “Buy” and a consensus price target of $7.20.

Elevation Oncology Trading Down 5.0 %

ELEV opened at $0.64 on Friday. The business has a 50 day simple moving average of $0.59 and a two-hundred day simple moving average of $1.44. The firm has a market capitalization of $37.61 million, a price-to-earnings ratio of -0.78 and a beta of 1.24. The company has a debt-to-equity ratio of 0.45, a current ratio of 17.77 and a quick ratio of 17.77. Elevation Oncology has a one year low of $0.44 and a one year high of $5.83.

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

Institutional Trading of Elevation Oncology

A number of hedge funds and other institutional investors have recently modified their holdings of the business. American Century Companies Inc. grew its holdings in Elevation Oncology by 55.7% in the second 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. XTX Topco Ltd purchased a new stake in shares of Elevation Oncology in the 2nd quarter worth approximately $103,000. SG Americas Securities LLC bought a new position in Elevation Oncology during the 3rd quarter valued at approximately $28,000. Barclays PLC raised its stake in Elevation Oncology by 302.4% during the third quarter. Barclays PLC now owns 72,077 shares of the company’s stock valued at $43,000 after buying an additional 54,167 shares during the last quarter. Finally, Rhumbline Advisers bought a new stake in Elevation Oncology in the second quarter worth $175,000. 83.70% of the stock is owned by hedge funds and other 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.