Elevation Oncology’s (ELEV) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Elevation Oncology (NASDAQ:ELEV) in a research report report published on Monday,Benzinga reports. The firm currently has a $6.00 price target on the stock. HC Wainwright also issued estimates for Elevation Oncology’s Q1 2025 earnings at ($0.21) EPS, Q2 2025 earnings at ($0.22) EPS, Q3 2025 earnings at ($0.23) EPS, FY2025 earnings at ($0.90) EPS and FY2026 earnings at ($0.90) EPS.

Other equities analysts have also issued reports about the stock. JMP Securities restated a “market outperform” rating and issued a $7.00 price objective on shares of Elevation Oncology in a report on Thursday, December 19th. Stephens reaffirmed an “overweight” rating and issued a $5.00 target price on shares of Elevation Oncology in a research note on Friday, March 7th. Finally, William Blair reaffirmed an “outperform” rating and issued a $5.00 target price on shares of Elevation Oncology in a research note on Friday, March 7th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $6.83.

Elevation Oncology Price Performance

Shares of ELEV stock opened at $0.51 on Monday. Elevation Oncology has a 1 year low of $0.41 and a 1 year high of $5.83. The firm’s 50 day moving average is $0.63 and its 200-day moving average is $0.62. The firm has a market capitalization of $30.21 million, a price-to-earnings ratio of -0.62 and a beta of 1.37. 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) last announced its quarterly earnings data on Thursday, March 6th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.04. Sell-side analysts forecast that Elevation Oncology will post -0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in Elevation Oncology by 21.5% in the fourth quarter. Barclays PLC now owns 87,608 shares of the company’s stock valued at $49,000 after acquiring an additional 15,531 shares during the last quarter. SG Americas Securities LLC lifted its stake in Elevation Oncology by 33.9% in the fourth quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock valued at $35,000 after acquiring an additional 15,560 shares during the last quarter. Bank of America Corp DE lifted its stake in Elevation Oncology by 42.5% in the fourth quarter. Bank of America Corp DE now owns 56,839 shares of the company’s stock valued at $32,000 after acquiring an additional 16,962 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Elevation Oncology by 47.8% in the fourth quarter. Two Sigma Advisers LP now owns 84,400 shares of the company’s stock valued at $47,000 after acquiring an additional 27,300 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Elevation Oncology by 3.9% in the fourth quarter. Millennium Management LLC now owns 815,916 shares of the company’s stock valued at $459,000 after acquiring an additional 30,466 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

About Elevation Oncology

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.