Elevation Oncology, Inc. (NASDAQ:ELEV) Receives $7.20 Average Target Price from Analysts

Elevation Oncology, Inc. (NASDAQ:ELEV) has received a consensus recommendation of “Buy” from the six research firms that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $7.20.

Several analysts have recently weighed in on ELEV shares. Stephens restated an “overweight” rating and set a $5.00 price objective on shares of Elevation Oncology in a research report on Friday, December 6th. HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Elevation Oncology in a research report on Tuesday, January 14th. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price objective on shares of Elevation Oncology in a report on Thursday, December 19th. Finally, William Blair began coverage on Elevation Oncology in a research report on Friday, January 3rd. They set an “outperform” rating on the stock.

Institutional Trading of Elevation Oncology

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Elevation Oncology in the third quarter valued at $28,000. GSA Capital Partners LLP purchased a new position in shares of Elevation Oncology during the third quarter worth about $260,000. State Street Corp increased its position in Elevation Oncology by 13.5% in 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 period. Sphera Funds Management LTD. raised its stake in Elevation Oncology by 227.2% during the 3rd quarter. Sphera Funds Management LTD. now owns 1,079,762 shares of the company’s stock valued at $648,000 after acquiring an additional 749,762 shares during the last quarter. Finally, Barclays PLC lifted its position in Elevation Oncology by 302.4% during the 3rd quarter. Barclays PLC now owns 72,077 shares of the company’s stock worth $43,000 after acquiring an additional 54,167 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

Elevation Oncology Price Performance

Shares of NASDAQ ELEV opened at $0.59 on Friday. The stock’s 50-day simple moving average is $0.65 and its 200-day simple moving average is $0.64. 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 firm has a market capitalization of $34.88 million, a PE ratio of -0.72 and a beta of 1.31. Elevation Oncology has a fifty-two week low of $0.50 and a fifty-two week high of $5.83.

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.