Millington Financial Advisors LLC Cuts Stake in Elevation Oncology, Inc. (NASDAQ:ELEV)

Millington Financial Advisors LLC lowered its stake in shares of Elevation Oncology, Inc. (NASDAQ:ELEV) by 50.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the company’s stock after selling 50,000 shares during the period. Millington Financial Advisors LLC’s holdings in Elevation Oncology were worth $28,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Elevation Oncology during the third quarter valued at approximately $28,000. JPMorgan Chase & Co. raised its holdings in shares of Elevation Oncology by 175.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 61,334 shares of the company’s stock worth $37,000 after acquiring an additional 39,101 shares in the last quarter. Palumbo Wealth Management LLC boosted its position in shares of Elevation Oncology by 294.5% during the 4th quarter. Palumbo Wealth Management LLC now owns 69,105 shares of the company’s stock valued at $39,000 after acquiring an additional 51,590 shares during the last quarter. Barclays PLC boosted its position in shares of Elevation Oncology by 302.4% during the 3rd quarter. Barclays PLC now owns 72,077 shares of the company’s stock valued at $43,000 after acquiring an additional 54,167 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of Elevation Oncology in the third quarter valued at $260,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Elevation Oncology Trading Down 2.9 %

Shares of ELEV opened at $0.59 on Tuesday. The company’s fifty day simple moving average is $0.65 and its 200-day simple moving average is $0.64. The company has a market cap of $34.88 million, a P/E ratio of -0.72 and a beta of 1.31. The company has a current ratio of 17.77, a quick ratio of 17.77 and a debt-to-equity ratio of 0.45. Elevation Oncology, Inc. has a twelve month low of $0.50 and a twelve month high of $5.83.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ELEV shares. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price target on shares of Elevation Oncology in a research note on Thursday, December 19th. Stephens restated an “overweight” rating and set a $5.00 target price on shares of Elevation Oncology in a research report on Friday, December 6th. William Blair started coverage on Elevation Oncology in a research report on Friday, January 3rd. They issued an “outperform” rating for the company. Finally, HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Elevation Oncology in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $7.20.

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.