Research Analysts Set Expectations for ELEV FY2029 Earnings

Elevation Oncology, Inc. (NASDAQ:ELEV) – Investment analysts at HC Wainwright issued their FY2029 earnings per share estimates for Elevation Oncology in a report released on Friday, March 21st. HC Wainwright analyst S. Ramakanth expects that the company will post earnings of ($0.40) per share for the year. HC Wainwright has a “Buy” rating and a $1.00 price target on the stock. The consensus estimate for Elevation Oncology’s current full-year earnings is ($0.84) per share.

ELEV has been the subject of several other reports. Leerink Partnrs cut shares of Elevation Oncology from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Stephens reissued an “equal weight” rating and set a $1.00 target price (down from $5.00) on shares of Elevation Oncology in a research note on Monday. JMP Securities reiterated a “market outperform” rating and issued a $7.00 price objective on shares of Elevation Oncology in a research note on Thursday, December 19th. William Blair restated an “outperform” rating and set a $5.00 price target on shares of Elevation Oncology in a report on Friday, March 7th. Finally, Wedbush lowered Elevation Oncology from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.39.

Elevation Oncology Stock Down 3.4 %

Shares of Elevation Oncology stock opened at $0.29 on Monday. The company has a quick ratio of 17.77, a current ratio of 17.77 and a debt-to-equity ratio of 0.45. Elevation Oncology has a 12-month low of $0.24 and a 12-month high of $5.83. The firm has a market capitalization of $17.17 million, a PE ratio of -0.35 and a beta of 1.37. The stock’s fifty day moving average is $0.59 and its 200-day moving average is $0.60.

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 analysts’ consensus estimates of ($0.22) by $0.04.

Institutional Investors Weigh In On Elevation Oncology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC grew its position in Elevation Oncology by 21.5% in the 4th quarter. Barclays PLC now owns 87,608 shares of the company’s stock worth $49,000 after purchasing an additional 15,531 shares during the last quarter. SG Americas Securities LLC lifted its position in Elevation Oncology by 33.9% in the fourth quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock worth $35,000 after purchasing an additional 15,560 shares during the period. Bank of America Corp DE increased its holdings in Elevation Oncology by 42.5% in the 4th quarter. Bank of America Corp DE now owns 56,839 shares of the company’s stock valued at $32,000 after buying an additional 16,962 shares during the period. Two Sigma Advisers LP raised its stake in shares of Elevation Oncology by 47.8% in the 4th quarter. Two Sigma Advisers LP now owns 84,400 shares of the company’s stock valued at $47,000 after buying an additional 27,300 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Elevation Oncology by 3.9% during the 4th quarter. Millennium Management LLC now owns 815,916 shares of the company’s stock worth $459,000 after acquiring an additional 30,466 shares during the period. Institutional investors and hedge funds 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.