Elevation Oncology, Inc. (NASDAQ:ELEV) Given Average Rating of “Hold” by Analysts

Elevation Oncology, Inc. (NASDAQ:ELEV) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $3.39.

A number of analysts recently issued reports on the company. Citigroup cut Elevation Oncology to a “market perform” rating in a report on Friday, March 21st. Citizens Jmp cut Elevation Oncology from an “outperform” rating to a “market perform” rating in a report on Friday, March 21st. William Blair reissued an “outperform” rating and set a $5.00 price objective on shares of Elevation Oncology in a report on Friday, March 7th. Piper Sandler cut Elevation Oncology from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $10.00 to $0.70 in a report on Friday, March 21st. Finally, Wedbush cut Elevation Oncology from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th.

Elevation Oncology Stock Up 5.0%

Shares of NASDAQ ELEV opened at $0.36 on Thursday. Elevation Oncology has a one year low of $0.22 and a one year high of $4.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 17.77 and a quick ratio of 17.77. The business’s fifty day moving average price is $0.35 and its 200-day moving average price is $0.53. The stock has a market capitalization of $21.34 million, a PE ratio of -0.44 and a beta of 1.59.

Elevation Oncology (NASDAQ:ELEV) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. On average, equities research analysts anticipate that Elevation Oncology will post -0.84 EPS for the current year.

Hedge Funds Weigh In On Elevation Oncology

A number of institutional investors have recently added to or reduced their stakes in the business. Nuveen LLC bought a new position in Elevation Oncology in the 1st quarter worth about $45,000. Charles Schwab Investment Management Inc. increased its stake in Elevation Oncology by 46.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 181,694 shares of the company’s stock worth $47,000 after acquiring an additional 57,513 shares during the last quarter. BML Capital Management LLC bought a new position in Elevation Oncology in the 1st quarter worth about $1,526,000. Palumbo Wealth Management LLC increased its stake in Elevation Oncology by 302.3% in the 1st quarter. Palumbo Wealth Management LLC now owns 278,002 shares of the company’s stock worth $72,000 after acquiring an additional 208,897 shares during the last quarter. Finally, Velan Capital Investment Management LP bought a new position in Elevation Oncology in the 4th quarter worth about $25,000. 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.