JonesTrading Reiterates Hold Rating for Elicio Therapeutics (NASDAQ:ELTX)

Elicio Therapeutics (NASDAQ:ELTX)‘s stock had its “hold” rating restated by analysts at JonesTrading in a report released on Tuesday,Benzinga reports.

A number of other research firms have also recently weighed in on ELTX. Rodman & Renshaw reaffirmed a “buy” rating on shares of Elicio Therapeutics in a research report on Monday. HC Wainwright lifted their price objective on Elicio Therapeutics from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Monday. Wall Street Zen cut Elicio Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. B. Riley Financial began coverage on Elicio Therapeutics in a research report on Wednesday, June 10th. They set a “buy” rating and a $27.00 price objective on the stock. Finally, LADENBURG THALM/SH SH began coverage on Elicio Therapeutics in a research report on Wednesday, April 15th. They set a “buy” rating and a $20.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $21.75.

Elicio Therapeutics Stock Performance

Shares of Elicio Therapeutics stock traded down $0.96 during trading hours on Tuesday, reaching $3.12. 2,635,379 shares of the stock traded hands, compared to its average volume of 228,143. The company has a 50 day moving average price of $11.23 and a 200 day moving average price of $9.93. The firm has a market capitalization of $59.48 million, a price-to-earnings ratio of -1.30 and a beta of 1.13. Elicio Therapeutics has a one year low of $3.16 and a one year high of $16.00. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 5.75.

Elicio Therapeutics (NASDAQ:ELTX) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.16). On average, equities research analysts expect that Elicio Therapeutics will post -2.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in Elicio Therapeutics by 186.8% in the 3rd quarter. Bank of America Corp DE now owns 3,585 shares of the company’s stock worth $39,000 after purchasing an additional 2,335 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Elicio Therapeutics in the 2nd quarter worth $46,000. Summit Financial LLC purchased a new stake in Elicio Therapeutics in the 4th quarter worth $80,000. HighTower Advisors LLC purchased a new position in shares of Elicio Therapeutics during the fourth quarter valued at about $89,000. Finally, Jane Street Group LLC purchased a new position in shares of Elicio Therapeutics during the first quarter valued at about $92,000. 35.03% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Elicio Therapeutics

Here are the key news stories impacting Elicio Therapeutics this week:

• Negative Sentiment: The company announced that the randomized Phase 2 AMPLIFY-7P study did not meet its primary endpoint, meaning the treatment failed to significantly improve the main measure investors were watching. Article Title
• Negative Sentiment: Multiple reports said ELTX shares plunged after the pancreatic cancer study missed its main goal, which is a major setback for a clinical-stage biotech whose valuation depends heavily on trial success. Article Title
• Negative Sentiment: Holzer & Holzer, LLC also announced an investigation into whether Elicio complied with federal securities laws after the disappointing trial update, adding legal uncertainty for investors. Article Title

About Elicio Therapeutics

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.