Elicio Therapeutics (NASDAQ:ELTX) Earns Buy Rating from HC Wainwright

Elicio Therapeutics (NASDAQ:ELTX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a note issued to investors on Tuesday, Marketbeat.com reports.

Other research analysts have also issued research reports about the company. Rodman & Renshaw reaffirmed a “buy” rating on shares of Elicio Therapeutics in a report on Monday, June 15th. LADENBURG THALM/SH SH initiated coverage on shares of Elicio Therapeutics in a report on Thursday, June 18th. They issued a “buy” rating and a $12.00 price target on the stock. Wall Street Zen upgraded shares of Elicio Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday. JonesTrading cut shares of Elicio Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, 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 for the company. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Elicio Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $19.75.

Elicio Therapeutics Price Performance

Elicio Therapeutics stock opened at $3.02 on Tuesday. The firm has a market capitalization of $57.65 million, a P/E ratio of -1.39 and a beta of 1.30. Elicio Therapeutics has a one year low of $2.66 and a one year high of $16.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.77 and a quick ratio of 2.77. The business has a fifty day moving average price of $4.24 and a 200-day moving average price of $8.40.

Elicio Therapeutics (NASDAQ:ELTX) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.11. As a group, equities research analysts forecast that Elicio Therapeutics will post -2.08 EPS for the current year.

Hedge Funds Weigh In On Elicio Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELTX. Bank of America Corp DE grew its position in Elicio Therapeutics by 186.8% during 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of Elicio Therapeutics by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 132,518 shares of the company’s stock valued at $1,055,000 after acquiring an additional 2,832 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Elicio Therapeutics during the 2nd quarter valued at about $46,000. State Street Corp boosted its position in shares of Elicio Therapeutics by 20.9% during the 4th quarter. State Street Corp now owns 46,300 shares of the company’s stock valued at $369,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Summit Financial LLC purchased a new position in shares of Elicio Therapeutics during the fourth quarter worth about $80,000. 35.03% of the stock is currently owned by hedge funds and other institutional investors.

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.