Bank of New York Mellon Corp bought a new position in shares of Elevation Oncology, Inc. (NASDAQ:ELEV – Free Report) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 153,586 shares of the company’s stock, valued at approximately $415,000.
A number of other hedge funds and other institutional investors have also modified their holdings of ELEV. SG Americas Securities LLC purchased a new stake in shares of Elevation Oncology during the first quarter worth about $63,000. Affinity Asset Advisors LLC purchased a new stake in shares of Elevation Oncology during the first quarter worth about $6,509,000. Artal Group S.A. purchased a new stake in shares of Elevation Oncology during the first quarter worth about $7,762,000. Vanguard Group Inc. increased its position in shares of Elevation Oncology by 30.8% during the first quarter. Vanguard Group Inc. now owns 1,532,045 shares of the company’s stock worth $7,859,000 after acquiring an additional 360,799 shares during the last quarter. Finally, Darwin Global Management Ltd. purchased a new stake in shares of Elevation Oncology during the first quarter worth about $11,968,000. 83.70% of the stock is owned by hedge funds and other institutional investors.
Elevation Oncology Stock Performance
Shares of ELEV stock opened at $0.59 on Wednesday. The company has a quick ratio of 41.10, a current ratio of 41.10 and a debt-to-equity ratio of 0.38. The business has a 50 day moving average of $1.25 and a two-hundred day moving average of $2.87. Elevation Oncology, Inc. has a 52 week low of $0.36 and a 52 week high of $5.83. The company has a market cap of $32.47 million, a P/E ratio of -0.57 and a beta of 1.26.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on ELEV shares. JMP Securities reiterated a “market outperform” rating and issued a $7.00 price target on shares of Elevation Oncology in a research note on Monday, July 15th. Piper Sandler started coverage on Elevation Oncology in a research note on Friday, May 31st. They issued an “overweight” rating and a $10.00 price target for the company. Wedbush reiterated an “outperform” rating and issued a $8.00 price target on shares of Elevation Oncology in a research note on Tuesday, August 6th. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Elevation Oncology in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $7.80.
Check Out Our Latest Research Report on Elevation Oncology
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.
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