Analysts Set Expectations for ELEV FY2029 Earnings

Elevation Oncology, Inc. (NASDAQ:ELEV) – Equities researchers at HC Wainwright issued their FY2029 earnings estimates for Elevation Oncology in a research report issued to clients and investors on Friday, March 21st. HC Wainwright analyst S. Ramakanth forecasts that the company will post earnings of ($0.40) per share for the year. HC Wainwright has a “Buy” rating and a $1.00 price objective on the stock. The consensus estimate for Elevation Oncology’s current full-year earnings is ($0.84) per share.

ELEV has been the topic of several other research reports. Leerink Partners downgraded Elevation Oncology from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $9.00 to $1.00 in a report on Friday. Stephens restated an “overweight” rating and set a $5.00 price objective on shares of Elevation Oncology in a report on Friday, March 7th. Piper Sandler downgraded Elevation Oncology from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $10.00 to $0.70 in a report on Friday. Leerink Partnrs downgraded Elevation Oncology from a “strong-buy” rating to a “hold” rating in a report on Thursday. Finally, William Blair reaffirmed an “outperform” rating and set a $5.00 target price on shares of Elevation Oncology in a research note on Friday, March 7th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $3.96.

Elevation Oncology Price Performance

NASDAQ ELEV opened at $0.30 on Monday. The stock’s 50-day moving average price is $0.59 and its two-hundred day moving average price is $0.60. The company has a current ratio of 17.77, a quick ratio of 17.77 and a debt-to-equity ratio of 0.45. The company has a market cap of $17.77 million, a PE ratio of -0.37 and a beta of 1.37. Elevation Oncology has a 1 year low of $0.24 and a 1 year high of $5.83.

Elevation Oncology (NASDAQ:ELEV) last issued its quarterly earnings results on Thursday, March 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.04.

Hedge Funds Weigh In On Elevation Oncology

Several institutional investors and hedge funds have recently bought and sold shares of the business. Frazier Life Sciences Management L.P. grew its stake in Elevation Oncology by 102.6% during the 3rd quarter. Frazier Life Sciences Management L.P. now owns 5,993,579 shares of the company’s stock valued at $3,596,000 after acquiring an additional 3,035,000 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Elevation Oncology by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 1,157,572 shares of the company’s stock valued at $651,000 after buying an additional 47,487 shares in the last quarter. Sphera Funds Management LTD. grew its stake in shares of Elevation Oncology by 227.2% in the 3rd quarter. Sphera Funds Management LTD. now owns 1,079,762 shares of the company’s stock valued at $648,000 after buying an additional 749,762 shares in the last quarter. State Street Corp grew its stake in shares of 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 buying an additional 120,993 shares in the last quarter. Finally, Millennium Management LLC grew its stake in shares of Elevation Oncology by 3.9% in the 4th quarter. Millennium Management LLC now owns 815,916 shares of the company’s stock valued at $459,000 after buying an additional 30,466 shares in the last quarter. Hedge funds and other institutional investors 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.