Elevation Oncology’s (ELEV) Buy Rating Reiterated at HC Wainwright

Elevation Oncology (NASDAQ:ELEV)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $6.00 price objective on the stock.

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

Elevation Oncology Trading Down 0.0 %

NASDAQ ELEV opened at $0.51 on Monday. Elevation Oncology has a 52 week low of $0.41 and a 52 week high of $5.83. The firm has a 50 day moving average of $0.64 and a two-hundred day moving average of $0.62. The company has a quick ratio of 17.77, a current ratio of 17.77 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $30.20 million, a PE ratio of -0.62 and a beta of 1.37.

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

Hedge Funds Weigh In On Elevation Oncology

Several hedge funds have recently bought and sold shares of ELEV. Velan Capital Investment Management LP purchased a new stake in Elevation Oncology during the fourth quarter worth $25,000. Bank of America Corp DE raised its stake in shares of Elevation Oncology by 42.5% during the 4th quarter. Bank of America Corp DE now owns 56,839 shares of the company’s stock worth $32,000 after buying an additional 16,962 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Elevation Oncology by 33.9% in the 4th quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock worth $35,000 after buying an additional 15,560 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in Elevation Oncology in the 4th quarter valued at about $35,000. Finally, Virtu Financial LLC purchased a new position in Elevation Oncology during the 4th quarter valued at about $36,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

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.