Elevation Oncology (NASDAQ:ELEV) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Elevation Oncology (NASDAQ:ELEV) in a research note published on Friday morning,Benzinga reports. The firm currently has a $6.00 target price on the stock.

Separately, Stephens reiterated an “overweight” rating and set a $5.00 price target on shares of Elevation Oncology in a report on Friday, December 6th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $7.20.

Elevation Oncology Stock Down 5.0 %

Shares of NASDAQ ELEV opened at $0.64 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 17.77 and a quick ratio of 17.77. The company has a 50-day moving average price of $0.59 and a 200-day moving average price of $1.41. The stock has a market capitalization of $37.61 million, a P/E ratio of -0.78 and a beta of 1.24. Elevation Oncology has a 1 year low of $0.44 and a 1 year high of $5.83.

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

Institutional Investors Weigh In On Elevation Oncology

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELEV. Vanguard Group Inc. boosted its stake in shares of Elevation Oncology by 30.8% in the 1st quarter. Vanguard Group Inc. now owns 1,532,045 shares of the company’s stock worth $7,859,000 after buying an additional 360,799 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Elevation Oncology in the third quarter worth $260,000. XTX Topco Ltd bought a new position in Elevation Oncology in the 2nd quarter valued at $103,000. Rhumbline Advisers purchased a new stake in shares of Elevation Oncology during the 2nd quarter valued at $175,000. Finally, Frazier Life Sciences Management L.P. bought a new stake in shares of Elevation Oncology during the 2nd quarter worth $7,988,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.