Analysts Set Elevation Oncology, Inc. (NASDAQ:ELEV) Price Target at $3.39

Shares of Elevation Oncology, Inc. (NASDAQ:ELEV) have been given an average recommendation of “Hold” by the ten research firms that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $3.39.

ELEV has been the topic of several research reports. William Blair restated an “outperform” rating and set a $5.00 price objective on shares of Elevation Oncology in a report on Friday, March 7th. Leerink Partnrs cut shares of Elevation Oncology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Leerink Partners cut shares of Elevation Oncology from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $9.00 to $1.00 in a research note on Friday, March 21st. HC Wainwright lowered their target price on shares of Elevation Oncology from $6.00 to $1.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Finally, Citigroup cut shares of Elevation Oncology to a “market perform” rating in a research note on Friday, March 21st.

Institutional Trading of Elevation Oncology

Several large investors have recently added to or reduced their stakes in ELEV. JPMorgan Chase & Co. grew 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 buying an additional 39,101 shares during the last quarter. SG Americas Securities LLC grew its stake in Elevation Oncology by 33.9% during the fourth quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock worth $35,000 after buying an additional 15,560 shares during the last quarter. Palumbo Wealth Management LLC grew its stake in Elevation Oncology by 294.5% during the fourth quarter. Palumbo Wealth Management LLC now owns 69,105 shares of the company’s stock worth $39,000 after buying an additional 51,590 shares during the last quarter. Virtu Financial LLC bought a new stake in Elevation Oncology during the fourth quarter worth about $36,000. Finally, Geode Capital Management LLC lifted its position in shares of Elevation Oncology by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 1,157,572 shares of the company’s stock worth $651,000 after purchasing an additional 47,487 shares in the last quarter. 83.70% of the stock is owned by institutional investors.

Elevation Oncology Stock Up 4.9%

ELEV stock opened at $0.32 on Monday. 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 has a 1 year low of $0.22 and a 1 year high of $3.66. The company has a fifty day simple moving average of $0.32 and a 200 day simple moving average of $0.49. The firm has a market cap of $18.95 million, a PE ratio of -0.39 and a beta of 1.43.

Elevation Oncology (NASDAQ:ELEV) last released its earnings results on Thursday, May 15th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). Sell-side 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.