Elicio Therapeutics, Inc. $ELTX Shares Newly Purchased by Shah Capital Management

Shah Capital Management bought a new position in shares of Elicio Therapeutics, Inc. (NASDAQ:ELTX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,250,000 shares of the company’s stock, valued at approximately $2,275,000. Elicio Therapeutics accounts for about 0.4% of Shah Capital Management’s investment portfolio, making the stock its 10th largest position. Shah Capital Management owned approximately 4.76% of Elicio Therapeutics at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ELTX. BlackRock Inc. bought a new stake in shares of Elicio Therapeutics in the 2nd quarter valued at $2,995,000. Deutsche Bank AG bought a new stake in Elicio Therapeutics in the second quarter valued at $49,000. Bank of New York Mellon Corp acquired a new position in shares of Elicio Therapeutics during the second quarter valued at about $62,000. Bank of America Corp DE boosted its position in shares of Elicio Therapeutics by 1,225.2% during the 1st quarter. Bank of America Corp DE now owns 15,333 shares of the company’s stock worth $164,000 after purchasing an additional 14,176 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Elicio Therapeutics by 332.7% in the 1st 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 during the period. 35.03% of the stock is currently owned by institutional investors.

Elicio Therapeutics Stock Performance

NASDAQ:ELTX traded up $0.07 during trading on Friday, reaching $1.88. The company’s stock had a trading volume of 79,865 shares, compared to its average volume of 675,582. The firm has a market cap of $49.41 million, a price-to-earnings ratio of -0.86 and a beta of 1.32. Elicio Therapeutics, Inc. has a 12 month low of $1.71 and a 12 month high of $16.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.77 and a current ratio of 2.77. The firm has a 50 day moving average of $2.47 and a 200-day moving average of $6.30.

Elicio Therapeutics (NASDAQ:ELTX) last posted its quarterly 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. Research analysts expect that Elicio Therapeutics, Inc. will post -1.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ELTX shares. Weiss Ratings lowered Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th. LADENBURG THALM/SH SH started coverage on Elicio Therapeutics in a report on Thursday, June 18th. They issued a “buy” rating and a $12.00 target price on the stock. Rodman & Renshaw restated a “buy” rating on shares of Elicio Therapeutics in a report on Monday, June 15th. B. Riley Financial reduced their price objective on shares of Elicio Therapeutics to $8.00 and set a “buy” rating for the company in a report on Thursday, September 24th. Finally, JonesTrading cut shares of Elicio Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Elicio Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Elicio Therapeutics Company Profile

Elicio Therapeutics, Inc is a clinical-stage biotechnology company developing immunotherapies designed to treat cancer by directing immune responses to the lymph nodes, where key immune cells are activated. The company’s technology is based on its Amphiphile platform, which is intended to improve the delivery and activity of therapeutic vaccines and other immune-modulating agents.

Elicio’s lead program is ELI-002, an investigational therapeutic cancer vaccine designed to target common KRAS mutations.