Brokerages Set Elevation Oncology, Inc. (NASDAQ:ELEV) PT at $3.39

Shares of Elevation Oncology, Inc. (NASDAQ:ELEV) have earned an average recommendation of “Hold” from the ten analysts that are covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $3.39.

A number of research analysts recently weighed in on the company. Stephens reissued an “equal weight” rating and set a $1.00 target price (down from $5.00) on shares of Elevation Oncology in a report on Monday, March 24th. Wedbush cut shares of Elevation Oncology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. HC Wainwright reduced their target price on shares of Elevation Oncology from $6.00 to $1.00 and set a “buy” rating for the company in a report on Friday, March 21st. William Blair restated an “outperform” rating and set a $5.00 price objective on shares of Elevation Oncology in a research report on Friday, March 7th. Finally, Citigroup lowered Elevation Oncology to a “market perform” rating in a research note on Friday, March 21st.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its position in shares of Elevation Oncology by 302.4% in the 3rd quarter. Barclays PLC now owns 72,077 shares of the company’s stock valued at $43,000 after buying an additional 54,167 shares in the last quarter. SG Americas Securities LLC increased its stake in Elevation Oncology by 33.9% in the fourth quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock valued at $35,000 after acquiring an additional 15,560 shares during the last quarter. Geode Capital Management LLC raised its position in Elevation Oncology by 7.6% during the third 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. lifted its stake in Elevation Oncology by 175.9% during the third quarter. JPMorgan Chase & Co. now owns 61,334 shares of the company’s stock worth $37,000 after purchasing an additional 39,101 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of 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 purchasing an additional 120,993 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Elevation Oncology Trading Up 16.7 %

NASDAQ ELEV opened at $0.39 on Friday. The company has a market cap of $22.86 million, a PE ratio of -0.47 and a beta of 1.65. Elevation Oncology has a 12 month low of $0.22 and a 12 month high of $4.49. The stock has a 50 day moving average of $0.43 and a 200-day moving average of $0.55. The company has a current ratio of 17.77, a quick ratio of 17.77 and a debt-to-equity ratio of 0.45.

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

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.