Elicio Therapeutics (NASDAQ:ELTX) Shares Down 1.7% – Time to Sell?

Elicio Therapeutics, Inc. (NASDAQ:ELTX)’s share price fell 1.7% during mid-day trading on Tuesday . The stock traded as low as $2.87 and last traded at $2.95. Approximately 361,412 shares traded hands during trading, a decline of 65% from the average session volume of 1,033,446 shares. The stock had previously closed at $3.00.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Elicio Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. LADENBURG THALM/SH SH began coverage on shares of Elicio Therapeutics in a report on Thursday, June 18th. They set a “buy” rating and a $12.00 price target for the company. HC Wainwright boosted their price target on shares of Elicio Therapeutics from $17.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, June 15th. B. Riley Financial started coverage on shares of Elicio Therapeutics in a research note on Wednesday, June 10th. They set a “buy” rating and a $27.00 price objective on the stock. Finally, JonesTrading lowered shares of Elicio Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 16th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $19.75.

Elicio Therapeutics Price Performance

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 5.75. The stock has a market capitalization of $55.55 million, a P/E ratio of -1.21 and a beta of 1.26. The company has a fifty day simple moving average of $6.30 and a two-hundred day simple moving average of $8.81.

Elicio Therapeutics (NASDAQ:ELTX) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.16). Sell-side analysts expect that Elicio Therapeutics, Inc. will post -2.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its position in shares of Elicio Therapeutics by 1,225.2% in the 1st quarter. Bank of America Corp DE now owns 15,333 shares of the company’s stock worth $164,000 after purchasing an additional 14,176 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Elicio Therapeutics by 332.7% in the first quarter. Renaissance Technologies LLC now owns 121,631 shares of the company’s stock valued at $1,300,000 after purchasing an additional 93,520 shares during the last quarter. HB Wealth Management LLC acquired a new position in Elicio Therapeutics in the first quarter valued at about $112,000. Quadrature Capital Ltd acquired a new position in Elicio Therapeutics in the fourth quarter valued at about $137,000. Finally, Occudo Quantitative Strategies LP bought a new position in Elicio Therapeutics during the fourth quarter worth about $126,000. Institutional investors and hedge funds own 35.03% of the company’s stock.

About Elicio Therapeutics

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.