Elicio Therapeutics (NASDAQ:ELTX) Coverage Initiated at B. Riley Financial

Analysts at B. Riley Financial initiated coverage on shares of Elicio Therapeutics (NASDAQ:ELTX) in a research note issued on Wednesday. The firm set a “buy” rating and a $27.00 price target on the stock. B. Riley Financial’s price target points to a potential upside of 90.14% from the company’s previous close.

Several other research firms also recently weighed in on ELTX. Wall Street Zen downgraded shares of Elicio Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. LADENBURG THALM/SH SH began coverage on shares of Elicio Therapeutics in a research report on Wednesday, April 15th. They issued a “buy” rating and a $20.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Elicio Therapeutics in a research report on Friday, April 24th. HC Wainwright reiterated a “buy” rating and issued a $17.00 price target on shares of Elicio Therapeutics in a research report on Thursday, May 28th. Finally, Rodman & Renshaw upgraded shares of Elicio Therapeutics to a “strong-buy” rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Elicio Therapeutics Stock Up 4.8%

ELTX opened at $14.20 on Wednesday. The firm has a 50 day moving average price of $11.13 and a 200 day moving average price of $9.83. The company has a market cap of $271.08 million, a PE ratio of -5.92 and a beta of 1.13. Elicio Therapeutics has a 1 year low of $7.37 and a 1 year high of $14.97. The company has a debt-to-equity ratio of 5.75, a quick ratio of 2.24 and a current ratio of 2.24.

Elicio Therapeutics (NASDAQ:ELTX) last posted its earnings results on Monday, May 11th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.16). Sell-side analysts expect that Elicio Therapeutics will post -1.87 earnings per share for the current year.

Institutional Trading of Elicio Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of ELTX. Royal Bank of Canada acquired a new position in shares of Elicio Therapeutics in the 1st quarter valued at about $225,000. Jane Street Group LLC acquired a new position in shares of Elicio Therapeutics in the 1st quarter valued at about $92,000. Geode Capital Management LLC increased its holdings in shares of Elicio Therapeutics by 56.0% in the 2nd quarter. Geode Capital Management LLC now owns 120,831 shares of the company’s stock valued at $933,000 after purchasing an additional 43,364 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Elicio Therapeutics in the 2nd quarter valued at about $46,000. Finally, Vanguard Group Inc. increased its holdings in shares of Elicio Therapeutics by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 473,859 shares of the company’s stock valued at $5,184,000 after purchasing an additional 19,240 shares during the period. Institutional investors and hedge funds own 35.03% of the company’s stock.

Elicio Therapeutics Company Profile

Angion Biomedica Corp. is a late-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of novel small molecule therapeutics to address acute organ injuries and fibrotic diseases. Angion Biomedica Corp. is based in UNIONDALE, N.Y.