Elicio Therapeutics, Inc. (NASDAQ:ELTX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Elicio Therapeutics, Inc. (NASDAQ:ELTX) has been given a consensus rating of “Moderate Buy” by the six research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $19.75.

A number of brokerages recently issued reports on ELTX. Rodman & Renshaw restated a “buy” rating on shares of Elicio Therapeutics in a research note on Monday, June 15th. B. Riley Financial started coverage on Elicio Therapeutics in a research report on Wednesday, June 10th. They issued a “buy” rating and a $27.00 target price on the stock. HC Wainwright reiterated a “buy” rating on shares of Elicio Therapeutics in a report on Tuesday, August 18th. JonesTrading lowered shares of Elicio Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, Weiss Ratings downgraded shares of Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th.

Hedge Funds Weigh In On Elicio Therapeutics

Large investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Elicio Therapeutics during the 2nd quarter valued at about $2,995,000. Deutsche Bank AG purchased a new position in Elicio Therapeutics during the second quarter worth approximately $49,000. Bank of New York Mellon Corp acquired a new stake in Elicio Therapeutics in the second quarter valued at approximately $62,000. Bank of America Corp DE grew its holdings in Elicio Therapeutics by 1,225.2% in the first quarter. Bank of America Corp DE now owns 15,333 shares of the company’s stock valued at $164,000 after purchasing an additional 14,176 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Elicio Therapeutics by 332.7% in the first quarter. Renaissance Technologies LLC now owns 121,631 shares of the company’s stock valued at $1,300,000 after buying an additional 93,520 shares in the last quarter. 35.03% of the stock is currently owned by institutional investors and hedge funds.

Elicio Therapeutics Stock Up 4.3%

Shares of NASDAQ ELTX traded up $0.08 during midday trading on Friday, reaching $1.95. 23,070 shares of the company’s stock traded hands, compared to its average volume of 706,334. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 1.20. The company has a market cap of $51.12 million, a price-to-earnings ratio of -0.92 and a beta of 1.29. Elicio Therapeutics has a one year low of $1.71 and a one year high of $16.00. The stock’s 50 day simple moving average is $2.84 and its 200-day simple moving average is $7.39.

Elicio Therapeutics (NASDAQ:ELTX) last announced its earnings results on Thursday, August 13th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.11. On average, analysts predict that Elicio Therapeutics will post -2.1 EPS for the current fiscal year.

About Elicio Therapeutics

Elicio Therapeutics is a clinical-stage biotechnology company developing cancer immunotherapies designed to activate and strengthen the immune system’s response to tumors. The company’s approach is based on its Amphiphile technology, which is intended to direct therapeutic agents to lymph nodes, where immune responses are initiated and expanded.

Elicio’s leading program, ELI-002, is an investigational therapeutic cancer vaccine targeting common KRAS mutations. The program is being studied in patients with certain solid tumors, including pancreatic and colorectal cancers, with the goal of treating minimal residual disease and reducing the risk of recurrence.