Elevation Oncology (NASDAQ:ELEV) Research Coverage Started at William Blair

William Blair started coverage on shares of Elevation Oncology (NASDAQ:ELEV) in a research report report published on Friday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating on the stock.

Several other brokerages also recently commented on ELEV. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price objective on shares of Elevation Oncology in a research note on Thursday, December 19th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Elevation Oncology in a research report on Friday, December 13th. Finally, Stephens reiterated an “overweight” rating and set a $5.00 price objective on shares of Elevation Oncology in a report on Friday, December 6th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $7.20.

Elevation Oncology Stock Performance

Shares of ELEV stock opened at $0.66 on Friday. The stock has a market cap of $39.24 million, a PE ratio of -0.81 and a beta of 1.24. The stock has a 50-day moving average of $0.61 and a 200-day moving average of $1.11. 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 $0.50 and a one year high of $5.83.

Elevation Oncology (NASDAQ:ELEV) last issued its 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). As a group, sell-side analysts expect that Elevation Oncology will post -0.85 earnings per share for the current year.

Institutional Trading of Elevation Oncology

Several hedge funds and other institutional investors have recently modified their holdings of ELEV. Bank of New York Mellon Corp acquired a new stake in Elevation Oncology during the second quarter worth approximately $415,000. Rhumbline Advisers bought a new stake in shares of Elevation Oncology in the second quarter valued at about $175,000. American Century Companies Inc. raised its stake in Elevation Oncology by 55.7% in 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 in the last quarter. XTX Topco Ltd acquired a new position in shares of Elevation Oncology during the 2nd quarter worth approximately $103,000. Finally, Logos Global Management LP increased its holdings in shares of Elevation Oncology by 285.0% during the second quarter. Logos Global Management LP now owns 3,850,000 shares of the company’s stock worth $10,395,000 after purchasing an additional 2,850,000 shares during the period. Institutional investors own 83.70% of the company’s stock.

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.