Stephens Reiterates Overweight Rating for Elevation Oncology (NASDAQ:ELEV)

Elevation Oncology (NASDAQ:ELEV)‘s stock had its “overweight” rating reiterated by research analysts at Stephens in a research report issued on Friday,Benzinga reports. They currently have a $5.00 target price on the stock.

Other equities analysts have also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Elevation Oncology in a research report on Tuesday, January 14th. William Blair initiated coverage on shares of Elevation Oncology in a research note on Friday, January 3rd. They issued an “outperform” rating on the stock. Finally, JMP Securities restated a “market outperform” rating and issued a $7.00 target price on shares of Elevation Oncology in a research note on Thursday, December 19th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Elevation Oncology presently has an average rating of “Buy” and an average target price of $6.83.

Elevation Oncology Stock Performance

NASDAQ:ELEV opened at $0.51 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 17.77 and a quick ratio of 17.77. The firm has a 50-day moving average of $0.64 and a two-hundred day moving average of $0.62. The stock has a market cap of $30.20 million, a P/E ratio of -0.62 and a beta of 1.37. Elevation Oncology has a 1-year low of $0.41 and a 1-year high of $5.83.

Elevation Oncology (NASDAQ:ELEV) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. On average, research analysts expect that Elevation Oncology will post -0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elevation Oncology

Institutional investors and hedge funds have recently bought and sold shares of the business. Velan Capital Investment Management LP acquired a new stake in Elevation Oncology during the fourth quarter worth about $25,000. Bank of America Corp DE raised its stake in Elevation Oncology by 42.5% during the fourth quarter. Bank of America Corp DE now owns 56,839 shares of the company’s stock worth $32,000 after acquiring an additional 16,962 shares during the period. JPMorgan Chase & Co. raised its stake 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 acquiring an additional 39,101 shares during the period. SG Americas Securities LLC raised its stake in Elevation Oncology by 33.9% during the fourth quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock worth $35,000 after acquiring an additional 15,560 shares during the period. Finally, Two Sigma Securities LLC acquired a new stake in Elevation Oncology during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.