Marshall Wace LLP Has $102,000 Stock Holdings in Elevation Oncology, Inc. (NASDAQ:ELEV)

Marshall Wace LLP decreased its holdings in Elevation Oncology, Inc. (NASDAQ:ELEV) by 71.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,738 shares of the company’s stock after selling 94,958 shares during the quarter. Marshall Wace LLP owned 0.07% of Elevation Oncology worth $102,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Logos Global Management LP grew its holdings in Elevation Oncology by 285.0% during the 2nd quarter. Logos Global Management LP now owns 3,850,000 shares of the company’s stock worth $10,395,000 after acquiring an additional 2,850,000 shares during the last quarter. XTX Topco Ltd acquired a new stake in Elevation Oncology during the 2nd quarter worth approximately $103,000. American Century Companies Inc. raised its holdings in Elevation Oncology by 55.7% during the 2nd quarter. American Century Companies Inc. now owns 49,222 shares of the company’s stock worth $133,000 after buying an additional 17,602 shares during the period. Rhumbline Advisers acquired a new stake in shares of Elevation Oncology in the second quarter valued at approximately $175,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Elevation Oncology in the second quarter valued at approximately $415,000. Institutional investors and hedge funds own 83.70% of the company’s stock.

Elevation Oncology Trading Up 2.3 %

Shares of NASDAQ:ELEV opened at $0.51 on Monday. The company has a market cap of $28.00 million, a P/E ratio of -0.49 and a beta of 1.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 41.10 and a quick ratio of 41.10. Elevation Oncology, Inc. has a 1 year low of $0.36 and a 1 year high of $5.83. The stock’s fifty day moving average price is $0.69 and its 200-day moving average price is $2.52.

Elevation Oncology (NASDAQ:ELEV) last posted its earnings results on Tuesday, August 6th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. Sell-side analysts expect that Elevation Oncology, Inc. will post -0.82 earnings per share for the current year.

Wall Street Analyst Weigh In

ELEV has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price objective on shares of Elevation Oncology in a research report on Monday, July 15th. HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Elevation Oncology in a research report on Wednesday, August 7th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $8.00 price target on shares of Elevation Oncology in a research note on Tuesday, August 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Elevation Oncology currently has an average rating of “Buy” and a consensus price target of $7.80.

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.