Elevation Oncology (NASDAQ:ELEV) Earns “Buy” Rating from HC Wainwright

Elevation Oncology (NASDAQ:ELEV)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $6.00 price target on the stock.

Several other research firms have also issued reports on ELEV. William Blair started coverage on shares of Elevation Oncology in a research note on Friday, January 3rd. They issued an “outperform” rating for the company. JMP Securities restated a “market outperform” rating and set a $7.00 price target on shares of Elevation Oncology in a report on Thursday, December 19th. Finally, Stephens reiterated an “overweight” rating and issued a $5.00 price objective on shares of Elevation Oncology in a research note on Friday, December 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Elevation Oncology has an average rating of “Buy” and a consensus target price of $7.20.

Elevation Oncology Price Performance

ELEV stock opened at $0.72 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 17.77 and a current ratio of 17.77. The business has a 50-day simple moving average of $0.63 and a two-hundred day simple moving average of $1.03. The company has a market capitalization of $42.60 million, a P/E ratio of -0.88 and a beta of 1.28. Elevation Oncology has a 52-week low of $0.50 and a 52-week high of $5.83.

Elevation Oncology (NASDAQ:ELEV) last announced its earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.02). Research analysts expect that Elevation Oncology will post -0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Elevation Oncology

Several institutional investors and hedge funds have recently bought and sold shares of ELEV. SG Americas Securities LLC bought a new position in shares of Elevation Oncology during the 3rd quarter worth $28,000. JPMorgan Chase & Co. boosted its position in Elevation Oncology by 175.9% during 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. Barclays PLC increased its stake in shares of Elevation Oncology by 302.4% in the third quarter. Barclays PLC now owns 72,077 shares of the company’s stock worth $43,000 after purchasing an additional 54,167 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Elevation Oncology in the second quarter worth about $103,000. Finally, American Century Companies Inc. raised its position in shares of Elevation Oncology by 55.7% in the second quarter. American Century Companies Inc. now owns 49,222 shares of the company’s stock valued at $133,000 after purchasing an additional 17,602 shares during the period. 83.70% of the stock is owned by institutional investors.

Elevation Oncology Company Profile

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.