Elevation Oncology, Inc. (NASDAQ:ELEV) Receives Consensus Rating of “Buy” from Brokerages

by · The Cerbat Gem

Shares of Elevation Oncology, Inc. (NASDAQ:ELEV – Get Free Report) have been assigned an average rating of “Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $7.20.

ELEV has been the topic of a number of recent research reports. HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Elevation Oncology in a report on Friday, December 13th. JMP Securities reiterated a “market outperform” rating and issued a $7.00 price target on shares of Elevation Oncology in a research report on Thursday, December 19th. William Blair started coverage on Elevation Oncology in a research report on Friday, January 3rd. They set an “outperform” rating for the company. Finally, Stephens reiterated an “overweight” rating and issued a $5.00 target price on shares of Elevation Oncology in a report on Friday, December 6th.

Get Our Latest Research Report on ELEV

Elevation Oncology Price Performance

Elevation Oncology stock opened at $0.75 on Friday. The stock has a 50-day moving average price of $0.62 and a two-hundred day moving average price of $1.07. Elevation Oncology has a 12 month low of $0.50 and a 12 month high of $5.83. The company has a market capitalization of $44.56 million, a PE ratio of -0.92 and a beta of 1.24. The company has a current ratio of 17.77, a quick ratio of 17.77 and a debt-to-equity ratio of 0.45.

Elevation Oncology (NASDAQ:ELEV – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). Analysts expect that Elevation Oncology will post -0.85 EPS for the current year.

Institutional Investors Weigh In On Elevation Oncology

Several large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new position in shares of Elevation Oncology during the 2nd quarter worth approximately $103,000. SG Americas Securities LLC acquired a new position in shares of Elevation Oncology during the 3rd quarter valued at $28,000. American Century Companies Inc. boosted its stake in Elevation Oncology by 55.7% during the second quarter. American Century Companies Inc. now owns 49,222 shares of the company’s stock worth $133,000 after acquiring an additional 17,602 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Elevation Oncology by 175.9% in the third quarter. JPMorgan Chase & Co. now owns 61,334 shares of the company’s stock worth $37,000 after purchasing an additional 39,101 shares during the period. Finally, Rhumbline Advisers acquired a new position in shares of Elevation Oncology during the second quarter valued at about $175,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Elevation Oncology Company Profile

(Get Free Report

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.

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