1,250,000 Shares of Elicio Therapeutics, Inc. $ELTX Acquired by Shah Capital Management

Shah Capital Management bought a new position in shares of Elicio Therapeutics, Inc. (NASDAQ:ELTX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,250,000 shares of the company’s stock, valued at approximately $2,275,000. Elicio Therapeutics accounts for about 0.4% of Shah Capital Management’s portfolio, making the stock its 10th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of Elicio Therapeutics in the second quarter worth approximately $2,995,000. Bank of New York Mellon Corp purchased a new stake in shares of Elicio Therapeutics during the 2nd quarter valued at $62,000. Bank of America Corp DE raised its position in shares of Elicio Therapeutics by 1,225.2% during the 1st quarter. Bank of America Corp DE now owns 15,333 shares of the company’s stock valued at $164,000 after buying an additional 14,176 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of Elicio Therapeutics during the 2nd quarter worth $49,000. Finally, Renaissance Technologies LLC grew its position in Elicio Therapeutics by 332.7% in the first quarter. Renaissance Technologies LLC now owns 121,631 shares of the company’s stock worth $1,300,000 after acquiring an additional 93,520 shares in the last quarter. Hedge funds and other institutional investors own 35.03% of the company’s stock.

Elicio Therapeutics Trading Up 3.9%

Shares of NASDAQ ELTX traded up $0.07 during trading hours on Friday, hitting $1.88. The company’s stock had a trading volume of 79,865 shares, compared to its average volume of 675,582. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.77 and a current ratio of 2.77. Elicio Therapeutics, Inc. has a 12 month low of $1.71 and a 12 month high of $16.00. The stock has a market cap of $49.41 million, a price-to-earnings ratio of -0.86 and a beta of 1.32. The business has a 50-day simple moving average of $2.47 and a 200-day simple moving average of $6.30.

Elicio Therapeutics (NASDAQ:ELTX) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.11. On average, analysts anticipate that Elicio Therapeutics, Inc. will post -1.9 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ELTX has been the subject of several research analyst reports. JonesTrading lowered Elicio Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Wall Street Zen raised Elicio Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings downgraded shares of Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 29th. Rodman & Renshaw restated a “buy” rating on shares of Elicio Therapeutics in a report on Monday, June 15th. Finally, LADENBURG THALM/SH SH started coverage on shares of Elicio Therapeutics in a report on Thursday, June 18th. They set a “buy” rating and a $12.00 target price on the stock. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Elicio Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $15.00.

About Elicio Therapeutics

Elicio Therapeutics, Inc is a clinical-stage biotechnology company developing immunotherapies designed to treat cancer by directing immune responses to the lymph nodes, where key immune cells are activated. The company’s technology is based on its Amphiphile platform, which is intended to improve the delivery and activity of therapeutic vaccines and other immune-modulating agents.

Elicio’s lead program is ELI-002, an investigational therapeutic cancer vaccine designed to target common KRAS mutations.