JonesTrading Reiterates “Hold” Rating for Elicio Therapeutics (NASDAQ:ELTX)

Elicio Therapeutics (NASDAQ:ELTX)‘s stock had its “hold” rating reiterated by equities research analysts at JonesTrading in a research note issued to investors on Tuesday,Benzinga reports.

ELTX has been the subject of a number of other reports. B. Riley Financial started coverage on shares of Elicio Therapeutics in a research note on Wednesday, June 10th. They issued a “buy” rating and a $27.00 price objective for the company. LADENBURG THALM/SH SH assumed coverage on shares of Elicio Therapeutics in a research report on Wednesday, April 15th. They set a “buy” rating and a $20.00 target price on the stock. Wall Street Zen downgraded shares of Elicio Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Rodman & Renshaw reiterated a “buy” rating on shares of Elicio Therapeutics in a research report on Monday. Finally, HC Wainwright boosted their price objective on Elicio Therapeutics from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.

Elicio Therapeutics Price Performance

Shares of ELTX traded down $0.96 during mid-day trading on Tuesday, hitting $3.12. 2,635,379 shares of the stock were exchanged, compared to its average volume of 228,143. The company has a debt-to-equity ratio of 5.75, a quick ratio of 2.24 and a current ratio of 2.24. The company has a market cap of $59.48 million, a PE ratio of -1.30 and a beta of 1.13. Elicio Therapeutics has a 52-week low of $3.16 and a 52-week high of $16.00. The firm has a 50-day moving average of $11.23 and a two-hundred day moving average of $9.93.

Elicio Therapeutics (NASDAQ:ELTX) last posted its earnings results on Monday, May 11th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.16). On average, equities analysts predict that Elicio Therapeutics will post -2.09 earnings per share for the current year.

Institutional Trading of Elicio Therapeutics

A number of institutional investors have recently bought and sold shares of ELTX. Bank of America Corp DE lifted its position in Elicio Therapeutics by 186.8% in the third quarter. Bank of America Corp DE now owns 3,585 shares of the company’s stock worth $39,000 after buying an additional 2,335 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Elicio Therapeutics in the second quarter worth $46,000. Summit Financial LLC bought a new stake in Elicio Therapeutics in the fourth quarter worth $80,000. HighTower Advisors LLC bought a new stake in Elicio Therapeutics in the fourth quarter worth $89,000. Finally, Jane Street Group LLC bought a new stake in Elicio Therapeutics in the first quarter worth $92,000. 35.03% of the stock is currently owned by institutional investors.

Elicio Therapeutics News Roundup

Here are the key news stories impacting Elicio Therapeutics this week:

• Negative Sentiment: The company announced that the randomized Phase 2 AMPLIFY-7P study did not meet its primary endpoint, meaning the treatment failed to significantly improve the main measure investors were watching. Article Title
• Negative Sentiment: Multiple reports said ELTX shares plunged after the pancreatic cancer study missed its main goal, which is a major setback for a clinical-stage biotech whose valuation depends heavily on trial success. Article Title
• Negative Sentiment: Holzer & Holzer, LLC also announced an investigation into whether Elicio complied with federal securities laws after the disappointing trial update, adding legal uncertainty for investors. Article Title

Elicio Therapeutics Company Profile

Angion Biomedica Corp. is a late-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of novel small molecule therapeutics to address acute organ injuries and fibrotic diseases. Angion Biomedica Corp. is based in UNIONDALE, N.Y.