Brokerages Set Elevation Oncology, Inc. (NASDAQ:ELEV) PT at $2.62

Shares of Elevation Oncology, Inc. (NASDAQ:ELEV) have received an average rating of “Hold” from the eleven ratings firms that are covering the firm, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $2.6167.

Several equities analysts have weighed in on the company. JMP Securities restated a “market perform” rating on shares of Elevation Oncology in a research note on Tuesday, June 10th. William Blair cut Elevation Oncology from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. TD Cowen cut Elevation Oncology from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Finally, HC Wainwright cut Elevation Oncology from a “strong-buy” rating to a “neutral” rating in a research note on Tuesday, June 10th.

Elevation Oncology Price Performance

Shares of ELEV opened at $0.3650 on Friday. Elevation Oncology has a 12-month low of $0.2210 and a 12-month high of $3.09. The business’s fifty day moving average is $0.37 and its 200 day moving average is $0.39. The company has a quick ratio of 19.40, a current ratio of 19.40 and a debt-to-equity ratio of 0.67. The stock has a market cap of $21.62 million, a P/E ratio of -0.45 and a beta of 1.48.

Hedge Funds Weigh In On Elevation Oncology

Several large investors have recently bought and sold shares of ELEV. Velan Capital Investment Management LP bought a new position in Elevation Oncology during the 4th quarter valued at $25,000. Qube Research & Technologies Ltd bought a new stake in shares of Elevation Oncology during the 2nd quarter worth $25,000. Persistent Asset Partners Ltd bought a new stake in shares of Elevation Oncology during the 2nd quarter worth $31,000. Bank of America Corp DE raised its stake in shares of Elevation Oncology by 42.5% during the 4th quarter. Bank of America Corp DE now owns 56,839 shares of the company’s stock worth $32,000 after purchasing an additional 16,962 shares during the period. Finally, Two Sigma Securities LLC bought a new stake in shares of Elevation Oncology during the 4th quarter worth $35,000. 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.