Elevation Oncology, Inc. (NASDAQ:ELEV) Shares Bought by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC lifted its position in shares of Elevation Oncology, Inc. (NASDAQ:ELEV) by 294.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,105 shares of the company’s stock after purchasing an additional 51,590 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Elevation Oncology were worth $39,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC grew its stake in shares of Elevation Oncology by 302.4% during the 3rd quarter. Barclays PLC now owns 72,077 shares of the company’s stock worth $43,000 after purchasing an additional 54,167 shares during the period. Geode Capital Management LLC lifted its holdings in Elevation Oncology by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,110,085 shares of the company’s stock valued at $666,000 after purchasing an additional 78,509 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Elevation Oncology by 33.9% in the 4th quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock valued at $35,000 after purchasing an additional 15,560 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Elevation Oncology by 175.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 61,334 shares of the company’s stock valued at $37,000 after purchasing an additional 39,101 shares in the last quarter. Finally, State Street Corp lifted its holdings in Elevation Oncology by 13.5% in the 3rd quarter. State Street Corp now owns 1,018,026 shares of the company’s stock valued at $611,000 after purchasing an additional 120,993 shares in the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Elevation Oncology Price Performance

Shares of NASDAQ ELEV opened at $0.67 on Monday. 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, Inc. has a twelve month low of $0.50 and a twelve month high of $5.83. The stock has a 50 day moving average of $0.66 and a two-hundred day moving average of $0.68. The stock has a market cap of $39.71 million, a P/E ratio of -0.82 and a beta of 1.31.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ELEV shares. JMP Securities reiterated a “market outperform” rating and set a $7.00 price target on shares of Elevation Oncology in a report on Thursday, December 19th. William Blair started coverage on Elevation Oncology in a research report on Friday, January 3rd. They issued an “outperform” rating for the company. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of Elevation Oncology in a research report on Tuesday, January 14th. Finally, Stephens reissued an “overweight” rating and set a $5.00 price objective on shares of Elevation Oncology in a research report on Friday, December 6th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Elevation Oncology presently has an average rating of “Buy” and an average price target of $7.20.

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.