Elevation Oncology (NASDAQ:ELEV) Shares Down 7.4%

Shares of Elevation Oncology, Inc. (NASDAQ:ELEVGet Free Report) were down 7.4% during trading on Friday . The company traded as low as $2.56 and last traded at $2.56. Approximately 769,975 shares traded hands during trading, a decline of 60% from the average daily volume of 1,934,799 shares. The stock had previously closed at $2.77.

Wall Street Analyst Weigh In

A number of analysts recently commented on ELEV shares. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Elevation Oncology in a report on Tuesday, April 9th. Stephens started coverage on shares of Elevation Oncology in a report on Tuesday, May 14th. They set an “overweight” rating and a $8.00 price objective on the stock. Piper Sandler started coverage on shares of Elevation Oncology in a report on Friday, May 31st. They set an “overweight” rating and a $10.00 price objective on the stock. JMP Securities reissued a “market outperform” rating and set a $7.00 price objective on shares of Elevation Oncology in a report on Thursday, March 7th. Finally, Wedbush reissued an “outperform” rating and set a $8.00 price objective on shares of Elevation Oncology in a report on Friday, May 3rd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, Elevation Oncology currently has a consensus rating of “Buy” and a consensus target price of $7.80.

Read Our Latest Report on ELEV

Elevation Oncology Stock Down 7.4 %

The company has a market cap of $139.88 million, a PE ratio of -2.46 and a beta of 1.52. The company has a quick ratio of 46.22, a current ratio of 46.22 and a debt-to-equity ratio of 0.41. The firm’s fifty day simple moving average is $3.69 and its 200-day simple moving average is $3.11.

Elevation Oncology (NASDAQ:ELEVGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). As a group, equities research analysts expect that Elevation Oncology, Inc. will post -0.92 earnings per share for the current fiscal year.

Institutional Trading of Elevation Oncology

Several institutional investors and hedge funds have recently modified their holdings of ELEV. Farallon Capital Management LLC acquired a new position in shares of Elevation Oncology in the first quarter valued at approximately $19,939,000. Darwin Global Management Ltd. acquired a new position in shares of Elevation Oncology in the first quarter valued at approximately $11,968,000. Artal Group S.A. acquired a new position in shares of Elevation Oncology in the first quarter valued at approximately $7,762,000. Affinity Asset Advisors LLC acquired a new position in shares of Elevation Oncology in the first quarter valued at approximately $6,509,000. Finally, Vanguard Group Inc. raised its position in shares of Elevation Oncology by 30.8% in the first quarter. Vanguard Group Inc. now owns 1,532,045 shares of the company’s stock valued at $7,859,000 after buying an additional 360,799 shares during the last quarter. Hedge funds and other institutional investors own 83.70% of the company’s stock.

Elevation Oncology Company Profile

(Get Free Report)

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.

Further Reading

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