Elevation Oncology (NASDAQ:ELEV) Given Overweight Rating at Stephens

Stephens reiterated their overweight rating on shares of Elevation Oncology (NASDAQ:ELEV) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $5.00 price target on the stock.

Other equities research analysts also recently issued research reports about the company. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Elevation Oncology in a report on Tuesday, January 14th. JMP Securities reiterated a “market outperform” rating and issued a $7.00 price objective on shares of Elevation Oncology in a report on Thursday, December 19th. Finally, William Blair started coverage on Elevation Oncology in a report on Friday, January 3rd. They set an “outperform” rating on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $6.83.

Elevation Oncology Price Performance

ELEV stock opened at $0.51 on Friday. The company has a current ratio of 17.77, a quick ratio of 17.77 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $30.20 million, a PE ratio of -0.62 and a beta of 1.37. Elevation Oncology has a 12-month low of $0.41 and a 12-month high of $5.83. The business’s fifty day moving average price is $0.64 and its 200 day moving average price is $0.62.

Elevation Oncology (NASDAQ:ELEV) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. On average, sell-side analysts anticipate that Elevation Oncology will post -0.84 EPS for the current year.

Institutional Investors Weigh In On Elevation Oncology

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

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.