Elevation Oncology, Inc. (NASDAQ:ELEV – Get Free Report) shares were down 7.4% during mid-day trading on Friday . The stock traded as low as $2.56 and last traded at $2.56. Approximately 769,975 shares were traded 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 Analysts Forecast Growth
Several equities research analysts have issued reports on ELEV shares. Piper Sandler began coverage on shares of Elevation Oncology in a research note on Friday, May 31st. They set an “overweight” rating and a $10.00 price objective for the company. Wedbush reiterated an “outperform” rating and set a $8.00 price objective on shares of Elevation Oncology in a research note on Friday, May 3rd. Stephens initiated coverage on shares of Elevation Oncology in a report on Tuesday, May 14th. They issued an “overweight” rating and a $8.00 target price on the stock. JMP Securities restated a “market outperform” rating and set a $7.00 price objective on shares of Elevation Oncology in a research report on Thursday, March 7th. Finally, HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Elevation Oncology in a research report on Tuesday, April 9th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $7.80.
Elevation Oncology Stock Performance
The company has a debt-to-equity ratio of 0.41, a current ratio of 46.22 and a quick ratio of 46.22. The firm has a market cap of $139.88 million, a price-to-earnings ratio of -2.46 and a beta of 1.52. The company has a fifty day moving average price of $3.65 and a two-hundred day moving average price of $3.13.
Elevation Oncology (NASDAQ:ELEV – Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.23) earnings per share 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 EPS for the current year.
Institutional Investors Weigh In On Elevation Oncology
A number of institutional investors and hedge funds have recently modified their holdings of ELEV. SG Americas Securities LLC acquired a new position in Elevation Oncology during the first quarter valued at $63,000. Vanguard Group Inc. increased its position in Elevation Oncology by 30.8% in the 1st quarter. Vanguard Group Inc. now owns 1,532,045 shares of the company’s stock worth $7,859,000 after purchasing an additional 360,799 shares during the last quarter. Affinity Asset Advisors LLC acquired a new position in Elevation Oncology in the 1st quarter worth about $6,509,000. Artal Group S.A. acquired a new position in Elevation Oncology in the 1st quarter worth about $7,762,000. Finally, Darwin Global Management Ltd. bought a new stake in shares of Elevation Oncology during the 1st quarter worth about $11,968,000. 83.70% of the stock is owned by institutional investors and hedge funds.
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.