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

HC Wainwright reiterated their buy rating on shares of Elevation Oncology (NASDAQ:ELEV) in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a $6.00 price objective on the stock.

Other analysts have also issued research reports about the stock. William Blair initiated coverage on shares of Elevation Oncology in a research note on Friday, January 3rd. They issued an “outperform” rating for the company. JMP Securities reissued a “market outperform” rating and issued a $7.00 target price on shares of Elevation Oncology in a research report on Thursday, December 19th. Finally, Stephens reaffirmed an “overweight” rating and set a $5.00 price target on shares of Elevation Oncology in a research report on Friday, December 6th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Elevation Oncology has an average rating of “Buy” and a consensus target price of $7.20.

Elevation Oncology Stock Performance

Shares of ELEV stock opened at $0.78 on Tuesday. 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 company’s fifty day moving average price is $0.63 and its two-hundred day moving average price is $1.02. The firm has a market capitalization of $46.14 million, a P/E ratio of -0.95 and a beta of 1.28. Elevation Oncology has a 12 month low of $0.50 and a 12 month high of $5.83.

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

Institutional Investors Weigh In On Elevation Oncology

A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Elevation Oncology in the third quarter valued at approximately $28,000. JPMorgan Chase & Co. grew its stake in Elevation Oncology by 175.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 61,334 shares of the company’s stock worth $37,000 after buying an additional 39,101 shares during the last quarter. Barclays PLC increased its position in 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 buying an additional 54,167 shares during the period. XTX Topco Ltd bought a new stake in Elevation Oncology in the second quarter valued at $103,000. Finally, American Century Companies Inc. boosted its holdings in shares of Elevation Oncology by 55.7% during the second quarter. American Century Companies Inc. now owns 49,222 shares of the company’s stock valued at $133,000 after acquiring an additional 17,602 shares during the period. Institutional investors 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.