Elevation Oncology (NASDAQ:ELEV) Price Target Cut to $1.00 by Analysts at HC Wainwright

Elevation Oncology (NASDAQ:ELEV) had its price objective trimmed by HC Wainwright from $6.00 to $1.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Elevation Oncology’s FY2029 earnings at ($0.40) EPS.

A number of other brokerages have also commented on ELEV. Stephens reissued an “overweight” rating and set a $5.00 price objective on shares of Elevation Oncology in a report on Friday, March 7th. William Blair restated an “outperform” rating and set a $5.00 target price on shares of Elevation Oncology in a research report on Friday, March 7th. Finally, JMP Securities restated a “market outperform” rating and set a $7.00 target price on shares of Elevation Oncology in a research report on Thursday, December 19th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $3.96.

Elevation Oncology Stock Up 7.9 %

ELEV opened at $0.30 on Friday. The firm’s 50-day simple moving average is $0.59 and its 200-day simple moving average is $0.60. The company has a debt-to-equity ratio of 0.45, a quick ratio of 17.77 and a current ratio of 17.77. Elevation Oncology has a twelve month low of $0.24 and a twelve month high of $5.83. The firm has a market cap of $17.77 million, a price-to-earnings ratio of -0.37 and a beta of 1.37.

Elevation Oncology (NASDAQ:ELEV) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. Equities research analysts anticipate that Elevation Oncology will post -0.84 EPS for the current fiscal year.

Institutional Trading of Elevation Oncology

Hedge funds have recently modified their holdings of the company. Velan Capital Investment Management LP acquired a new stake in shares of Elevation Oncology in the 4th quarter valued at approximately $25,000. Bank of America Corp DE raised its position in shares of Elevation Oncology by 42.5% in the 4th 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 period. SG Americas Securities LLC raised its holdings in Elevation Oncology by 33.9% during the 4th quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock worth $35,000 after buying an additional 15,560 shares during the period. Two Sigma Securities LLC acquired a new stake in Elevation Oncology during the 4th quarter worth approximately $35,000. Finally, Virtu Financial LLC acquired a new stake in Elevation Oncology during the 4th quarter worth approximately $36,000. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.