Elevation Oncology, Inc. (NASDAQ:ELEV) Receives $7.20 Consensus Price Target from Brokerages

Shares of Elevation Oncology, Inc. (NASDAQ:ELEV) have earned an average recommendation of “Buy” from the six ratings firms that are presently covering the company, Marketbeat reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $7.20.

A number of equities research analysts have recently commented on the company. William Blair initiated coverage on Elevation Oncology in a research report on Friday. They set an “outperform” rating for the company. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Elevation Oncology in a report on Friday, December 13th. Stephens reissued an “overweight” rating and issued a $5.00 price target on shares of Elevation Oncology in a research note on Friday, December 6th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price objective on shares of Elevation Oncology in a research note on Thursday, December 19th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ELEV. Bank of New York Mellon Corp acquired a new stake in shares of Elevation Oncology during the 2nd quarter valued at about $415,000. Rhumbline Advisers bought a new position in Elevation Oncology during the second quarter valued at approximately $175,000. American Century Companies Inc. lifted its stake in Elevation Oncology by 55.7% in the second quarter. American Century Companies Inc. now owns 49,222 shares of the company’s stock valued at $133,000 after acquiring an additional 17,602 shares during the last quarter. XTX Topco Ltd bought a new stake in Elevation Oncology in the second quarter worth approximately $103,000. Finally, Logos Global Management LP increased its stake in shares of 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 purchasing an additional 2,850,000 shares during the last quarter. Institutional investors and hedge funds own 83.70% of the company’s stock.

Elevation Oncology Stock Up 11.5 %

Elevation Oncology stock opened at $0.66 on Friday. Elevation Oncology has a 52 week low of $0.50 and a 52 week high of $5.83. The stock has a market cap of $39.24 million, a price-to-earnings ratio of -0.81 and a beta of 1.24. The company’s 50-day moving average price is $0.61 and its two-hundred day moving average price is $1.11. The company has a current ratio of 17.77, a quick ratio of 17.77 and a debt-to-equity ratio of 0.45.

Elevation Oncology (NASDAQ:ELEV) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). On average, analysts expect that Elevation Oncology will post -0.85 EPS for the current fiscal 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.