GSA Capital Partners LLP Takes Position in Elevation Oncology, Inc. (NASDAQ:ELEV)

GSA Capital Partners LLP bought a new position in shares of Elevation Oncology, Inc. (NASDAQ:ELEV) in the 3rd quarter, HoldingsChannel reports. The fund bought 433,545 shares of the company’s stock, valued at approximately $260,000.

A number of other institutional investors have also modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Elevation Oncology during the first quarter worth approximately $63,000. Vanguard Group Inc. raised its holdings in 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 purchasing an additional 360,799 shares in the last quarter. Artal Group S.A. purchased a new stake in shares of Elevation Oncology in the first quarter valued at approximately $7,762,000. Farallon Capital Management LLC purchased a new position in shares of Elevation Oncology in the 1st quarter valued at about $19,939,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Elevation Oncology during the 2nd quarter valued at approximately $415,000. 83.70% of the stock is owned by institutional investors and hedge funds.

Elevation Oncology Stock Performance

ELEV opened at $0.60 on Friday. The firm’s 50 day moving average is $0.58 and its 200-day moving average is $1.74. The firm has a market capitalization of $35.67 million, a P/E ratio of -0.74 and a beta of 1.24. Elevation Oncology, Inc. has a 52-week low of $0.44 and a 52-week high of $5.83. The company has a quick ratio of 17.77, a current ratio of 17.77 and a debt-to-equity ratio of 0.45.

Elevation Oncology (NASDAQ:ELEV) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.02). Analysts expect that Elevation Oncology, Inc. will post -0.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ELEV has been the topic of a number of research reports. Wedbush reissued an “outperform” rating and issued a $8.00 price objective on shares of Elevation Oncology in a research note on Tuesday, August 6th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Elevation Oncology in a research report on Wednesday, August 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $7.80.

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.