Elevation Oncology (ELEV) Projected to Post Earnings on Wednesday

Elevation Oncology (NASDAQ:ELEV) will likely be releasing its earnings data before the market opens on Wednesday, March 5th. Analysts expect Elevation Oncology to post earnings of ($0.22) per share for the quarter.

Elevation Oncology Stock Down 8.6 %

Shares of Elevation Oncology stock opened at $0.48 on Tuesday. The stock has a market capitalization of $28.32 million, a price-to-earnings ratio of -0.58 and a beta of 1.31. Elevation Oncology has a 52-week low of $0.48 and a 52-week high of $5.83. The company has a debt-to-equity ratio of 0.45, a quick ratio of 17.77 and a current ratio of 17.77. The company’s 50 day moving average price is $0.64 and its 200-day moving average price is $0.63.

Institutional Investors Weigh In On Elevation Oncology

A hedge fund recently raised its stake in Elevation Oncology stock. Bank of America Corp DE grew its holdings in Elevation Oncology, Inc. (NASDAQ:ELEV) by 42.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,839 shares of the company’s stock after buying an additional 16,962 shares during the period. Bank of America Corp DE owned approximately 0.10% of Elevation Oncology worth $32,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ELEV. 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. William Blair assumed coverage on Elevation Oncology in a report on Friday, January 3rd. They issued an “outperform” rating for the company. JMP Securities restated a “market outperform” rating and set a $7.00 target price on shares of Elevation Oncology in a report on Thursday, December 19th. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 price target 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, Based on data from MarketBeat, Elevation Oncology has a consensus rating of “Buy” and a consensus price target 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.