Elevation Oncology’s (ELEV) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reiterated their market perform rating on shares of Elevation Oncology (NASDAQ:ELEV) in a report released on Tuesday,Benzinga reports.

A number of other equities research analysts have also commented on the stock. Citigroup lowered shares of Elevation Oncology to a “market perform” rating in a report on Friday, March 21st. Stephens restated an “equal weight” rating and issued a $1.00 price objective (down from $5.00) on shares of Elevation Oncology in a report on Monday, March 24th. William Blair lowered shares of Elevation Oncology from a “strong-buy” rating to a “hold” rating in a report on Monday. Wedbush lowered shares of Elevation Oncology from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Finally, Leerink Partners lowered shares of Elevation Oncology from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $9.00 to $1.00 in a report on Friday, March 21st. Eleven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Elevation Oncology has a consensus rating of “Hold” and an average price target of $3.39.

Elevation Oncology Trading Up 0.2%

Shares of ELEV opened at $0.38 on Tuesday. The firm has a market cap of $22.52 million, a price-to-earnings ratio of -0.46 and a beta of 1.43. The company has a debt-to-equity ratio of 0.45, a quick ratio of 17.77 and a current ratio of 17.77. Elevation Oncology has a fifty-two week low of $0.22 and a fifty-two week high of $3.45. The firm has a 50 day moving average price of $0.33 and a 200-day moving average price of $0.49.

Elevation Oncology (NASDAQ:ELEV) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). As a group, equities research analysts forecast that Elevation Oncology will post -0.84 earnings per share for the current year.

Institutional Trading of Elevation Oncology

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC grew its position in Elevation Oncology by 21.5% during the 4th quarter. Barclays PLC now owns 87,608 shares of the company’s stock valued at $49,000 after purchasing an additional 15,531 shares during the last quarter. SG Americas Securities LLC grew its position in Elevation Oncology by 33.9% during the 4th quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock valued at $35,000 after purchasing an additional 15,560 shares during the last quarter. Bank of America Corp DE grew its position in Elevation Oncology by 42.5% during the 4th quarter. Bank of America Corp DE now owns 56,839 shares of the company’s stock valued at $32,000 after purchasing an additional 16,962 shares during the last quarter. Two Sigma Advisers LP grew its position in Elevation Oncology by 47.8% during the 4th quarter. Two Sigma Advisers LP now owns 84,400 shares of the company’s stock valued at $47,000 after purchasing an additional 27,300 shares during the last quarter. Finally, Millennium Management LLC grew its position in Elevation Oncology by 3.9% during the 4th quarter. Millennium Management LLC now owns 815,916 shares of the company’s stock valued at $459,000 after purchasing an additional 30,466 shares during the last quarter. 83.70% of the stock is owned by hedge funds and other 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.