Elevation Oncology (NASDAQ:ELEV) Cut to Market Perform at Citizens Jmp

Citizens Jmp cut shares of Elevation Oncology (NASDAQ:ELEV) from an outperform rating to a market perform rating in a research note issued to investors on Friday morning, Marketbeat.com reports.

Other research analysts have also issued reports about the stock. William Blair reiterated an “outperform” rating and issued a $5.00 price target on shares of Elevation Oncology in a research note on Friday, March 7th. JMP Securities reiterated a “market outperform” rating and issued a $7.00 price target on shares of Elevation Oncology in a research note on Thursday, December 19th. Piper Sandler lowered shares of Elevation Oncology from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $10.00 to $0.70 in a research note on Friday. Stephens reiterated an “overweight” rating and issued a $5.00 price target on shares of Elevation Oncology in a research note on Friday, March 7th. Finally, HC Wainwright decreased their price target on shares of Elevation Oncology from $6.00 to $1.00 and set a “buy” rating for the company in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.96.

Elevation Oncology Trading Up 7.9 %

NASDAQ:ELEV opened at $0.30 on Friday. The company has a 50-day moving average price of $0.59 and a 200-day moving average price of $0.60. Elevation Oncology has a 12 month low of $0.24 and a 12 month high of $5.83. 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 stock has a market cap of $17.77 million, a price-to-earnings ratio of -0.37 and a beta of 1.37.

Elevation Oncology (NASDAQ:ELEV) last posted its earnings results on Thursday, March 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.04. Equities analysts predict that Elevation Oncology will post -0.84 EPS for the current year.

Institutional Trading of Elevation Oncology

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC increased its stake in 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 purchasing an additional 54,167 shares in the last quarter. SG Americas Securities LLC increased its stake in Elevation Oncology by 33.9% during the 4th quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock valued at $35,000 after purchasing an additional 15,560 shares in the last quarter. Geode Capital Management LLC increased its stake in Elevation Oncology by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,110,085 shares of the company’s stock valued at $666,000 after purchasing an additional 78,509 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Elevation Oncology by 175.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 61,334 shares of the company’s stock valued at $37,000 after purchasing an additional 39,101 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Elevation Oncology by 13.5% during the 3rd quarter. State Street Corp now owns 1,018,026 shares of the company’s stock valued at $611,000 after acquiring an additional 120,993 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors.

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.