Analysts Set Elevation Oncology, Inc. (NASDAQ:ELEV) PT at $7.20

Shares of Elevation Oncology, Inc. (NASDAQ:ELEV) have been given a consensus rating of “Buy” by the six ratings firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $7.20.

Several research analysts have commented on ELEV shares. JMP Securities restated a “market outperform” rating and issued a $7.00 target price on shares of Elevation Oncology in a research note on Thursday, December 19th. Stephens restated an “overweight” rating and issued a $5.00 price objective on shares of Elevation Oncology in a research report on Friday, December 6th. William Blair initiated coverage on shares of Elevation Oncology in a report on Friday, January 3rd. They set an “outperform” rating on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Elevation Oncology in a report on Friday, December 13th.

Institutional Investors Weigh In On Elevation Oncology

A number of large investors have recently added to or reduced their stakes in ELEV. State Street Corp boosted its holdings in shares of Elevation Oncology by 13.5% in the 3rd quarter. State Street Corp now owns 1,018,026 shares of the company’s stock worth $611,000 after purchasing an additional 120,993 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Elevation Oncology in the third quarter worth approximately $260,000. XTX Topco Ltd bought a new position in Elevation Oncology during the second quarter valued at approximately $103,000. Rhumbline Advisers purchased a new position in shares of Elevation Oncology during the second quarter worth approximately $175,000. Finally, Frazier Life Sciences Management L.P. bought a new stake in shares of Elevation Oncology in the 2nd quarter worth approximately $7,988,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Elevation Oncology Stock Performance

NASDAQ ELEV opened at $0.83 on Friday. The firm has a market cap of $48.99 million, a P/E ratio of -1.01 and a beta of 1.28. The company has a quick ratio of 17.77, a current ratio of 17.77 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average is $0.61 and its 200-day moving average is $1.08. Elevation Oncology has a 12-month low of $0.50 and a 12-month high of $5.83.

Elevation Oncology (NASDAQ:ELEV) last posted its earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.02). Sell-side analysts predict that Elevation Oncology will post -0.85 earnings per share for the current year.

Elevation Oncology Company Profile

Elevation Oncology, Inc, an oncology company, focuses on the discovery and development of cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs. The company's lead candidate is EO-3021, an antibody-drug conjugate designed to target Claudin 18.2, a clinically validated molecular target.