Elevation Oncology, Inc. (NASDAQ:ELEV) Given Consensus Recommendation of “Buy” by Analysts

Shares of Elevation Oncology, Inc. (NASDAQ:ELEV) have been given an average rating of “Buy” by the five brokerages that are currently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have covered the stock in the last year is $7.20.

Several equities analysts have weighed in on the company. Stephens reissued an “overweight” rating and set a $5.00 price target on shares of Elevation Oncology in a research report on Friday, December 6th. JMP Securities reiterated a “market outperform” rating and set a $7.00 price objective on shares of Elevation Oncology in a research report on Thursday, December 19th. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Elevation Oncology in a report on Friday, December 13th. Finally, William Blair started coverage on shares of Elevation Oncology in a research note on Friday. They set an “outperform” rating on the stock.

Elevation Oncology Stock Up 5.8 %

ELEV opened at $0.60 on Friday. 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 company has a market cap of $35.18 million, a price-to-earnings ratio of -0.73 and a beta of 1.24. Elevation Oncology has a one year low of $0.50 and a one year high of $5.83. The business’s fifty day moving average is $0.60 and its two-hundred day moving average is $1.14.

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

Institutional Investors Weigh In On Elevation Oncology

Several hedge funds have recently modified their holdings of ELEV. GSA Capital Partners LLP purchased a new stake in Elevation Oncology during the 3rd quarter worth $260,000. XTX Topco Ltd acquired a new position in shares of Elevation Oncology during the second quarter worth about $103,000. Rhumbline Advisers purchased a new stake in shares of Elevation Oncology in the second quarter worth about $175,000. Frazier Life Sciences Management L.P. acquired a new stake in shares of Elevation Oncology in the second quarter valued at about $7,988,000. Finally, Affinity Asset Advisors LLC raised its holdings in shares of Elevation Oncology by 15.8% during the 2nd quarter. Affinity Asset Advisors LLC now owns 1,468,825 shares of the company’s stock valued at $3,966,000 after buying an additional 200,000 shares during the period. 83.70% of the stock is owned by institutional investors and hedge funds.

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.