Elevation Oncology’s (ELEV) “Overweight” Rating Reaffirmed at Stephens

Elevation Oncology (NASDAQ:ELEV)‘s stock had its “overweight” rating restated by analysts at Stephens in a research note issued on Friday,Benzinga reports. They currently have a $5.00 target price on the stock.

Elevation Oncology Stock Up 1.5 %

Shares of NASDAQ:ELEV opened at $0.60 on Friday. 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 firm has a market cap of $35.47 million, a price-to-earnings ratio of -0.73 and a beta of 1.24. The stock’s 50-day moving average price is $0.58 and its two-hundred day moving average price is $1.55. Elevation Oncology has a 12-month low of $0.44 and a 12-month high of $5.83.

Elevation Oncology (NASDAQ:ELEV) last released its earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.02). On average, research analysts forecast that Elevation Oncology will post -0.85 EPS for the current year.

Institutional Trading of Elevation Oncology

A number of institutional investors and hedge funds have recently made changes to their positions in ELEV. Vanguard Group Inc. grew its position in Elevation Oncology by 30.8% during the first quarter. Vanguard Group Inc. now owns 1,532,045 shares of the company’s stock valued at $7,859,000 after acquiring an additional 360,799 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Elevation Oncology during the 3rd quarter worth about $260,000. XTX Topco Ltd acquired a new stake in Elevation Oncology during the 2nd quarter worth approximately $103,000. Rhumbline Advisers purchased a new position in Elevation Oncology in the second quarter valued at approximately $175,000. Finally, Frazier Life Sciences Management L.P. purchased a new position in Elevation Oncology in the second quarter valued at approximately $7,988,000. 83.70% of the stock is currently 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.