Elevation Oncology (NASDAQ:ELEV) Stock Rating Lowered by HC Wainwright

Elevation Oncology (NASDAQ:ELEV) was downgraded by HC Wainwright from a “strong-buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. HC Wainwright also issued estimates for Elevation Oncology’s Q4 2025 earnings at ($0.17) EPS, FY2025 earnings at ($0.71) EPS, Q1 2026 earnings at ($0.18) EPS, Q2 2026 earnings at ($0.19) EPS, Q3 2026 earnings at ($0.11) EPS, Q4 2026 earnings at ($0.13) EPS, FY2026 earnings at ($0.57) EPS, FY2027 earnings at ($0.46) EPS and FY2029 earnings at ($0.39) EPS.

ELEV has been the subject of a number of other reports. Citigroup downgraded Elevation Oncology to a “market perform” rating in a report on Friday, March 21st. Leerink Partnrs lowered shares of Elevation Oncology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. Wedbush downgraded shares of Elevation Oncology from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 20th. Stephens reiterated an “equal weight” rating and issued a $1.00 price objective (down from $5.00) on shares of Elevation Oncology in a research report on Monday, March 24th. Finally, Citizens Jmp downgraded Elevation Oncology from an “outperform” rating to a “market perform” rating in a research report on Friday, March 21st. Eleven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.39.

Elevation Oncology Price Performance

Shares of ELEV stock traded up $0.00 on Tuesday, reaching $0.38. 801,319 shares of the company were exchanged, compared to its average volume of 1,506,987. The business has a 50-day moving average price of $0.33 and a 200 day moving average price of $0.49. Elevation Oncology has a 1 year low of $0.22 and a 1 year high of $3.36. The company has a market cap of $22.61 million, a price-to-earnings ratio of -0.47 and a beta of 1.43. The company has a debt-to-equity ratio of 0.45, a quick ratio of 17.77 and a current ratio of 17.77.

Elevation Oncology (NASDAQ:ELEV) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.04). Equities research analysts forecast that Elevation Oncology will post -0.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elevation Oncology

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BML Capital Management LLC bought a new stake in Elevation Oncology during the first quarter valued at about $1,526,000. Allostery Investments LP bought a new stake in Elevation Oncology during the 4th quarter worth about $243,000. Palumbo Wealth Management LLC lifted its holdings in Elevation Oncology by 302.3% during the 1st quarter. Palumbo Wealth Management LLC now owns 278,002 shares of the company’s stock worth $72,000 after buying an additional 208,897 shares in the last quarter. Stonepine Capital Management LLC bought a new position in Elevation Oncology in the fourth quarter valued at about $113,000. Finally, Nuveen LLC acquired a new position in shares of Elevation Oncology in the 1st quarter valued at $45,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

About Elevation Oncology

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.