Elicio Therapeutics (NASDAQ:ELTX) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Elicio Therapeutics (NASDAQ:ELTX) announced its quarterly earnings data on Thursday. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.11, FiscalAI reports.

Elicio Therapeutics Price Performance

Elicio Therapeutics stock opened at $3.09 on Friday. The business has a 50 day simple moving average of $4.46 and a 200 day simple moving average of $8.43. The company has a debt-to-equity ratio of 5.75, a current ratio of 2.24 and a quick ratio of 2.24. The company has a market capitalization of $58.99 million, a PE ratio of -1.42 and a beta of 1.30. Elicio Therapeutics has a one year low of $2.66 and a one year high of $16.00.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE lifted its holdings in shares of Elicio Therapeutics by 186.8% during the third quarter. Bank of America Corp DE now owns 3,585 shares of the company’s stock valued at $39,000 after acquiring an additional 2,335 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Elicio Therapeutics during the 2nd quarter worth about $46,000. Summit Financial LLC acquired a new stake in shares of Elicio Therapeutics during the 4th quarter worth about $80,000. HighTower Advisors LLC bought a new position in Elicio Therapeutics during the 4th quarter valued at about $89,000. Finally, Jane Street Group LLC bought a new position in Elicio Therapeutics during the 1st quarter valued at about $92,000. 35.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on ELTX. HC Wainwright raised their target price on Elicio Therapeutics from $17.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Weiss Ratings lowered shares of Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th. Rodman & Renshaw restated a “buy” rating on shares of Elicio Therapeutics in a research note on Monday, June 15th. Wall Street Zen raised shares of Elicio Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday. Finally, JonesTrading lowered shares of Elicio Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Four equities 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.75.

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.