Q4 Earnings Estimate for ELEV Issued By William Blair

Elevation Oncology, Inc. (NASDAQ:ELEV) – Equities research analysts at William Blair issued their Q4 2024 earnings estimates for shares of Elevation Oncology in a research note issued on Tuesday, January 14th. William Blair analyst A. Hsieh forecasts that the company will post earnings per share of ($0.18) for the quarter. William Blair has a “Outperform” rating on the stock. The consensus estimate for Elevation Oncology’s current full-year earnings is ($0.84) per share.

Several other research firms have also recently weighed in on ELEV. JMP Securities reiterated a “market outperform” rating and issued a $7.00 price target on shares of Elevation Oncology in a report on Thursday, December 19th. HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Elevation Oncology in a research report on Tuesday, January 14th. Finally, Stephens restated an “overweight” rating and issued a $5.00 price objective on shares of Elevation Oncology in a report on Friday, December 6th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $7.20.

Elevation Oncology Price Performance

ELEV opened at $0.71 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 17.77 and a current ratio of 17.77. The stock has a market capitalization of $42.05 million, a PE ratio of -0.87 and a beta of 1.28. The stock’s 50 day moving average price is $0.64 and its 200-day moving average price is $0.99. Elevation Oncology has a 52-week low of $0.50 and a 52-week high of $5.83.

Elevation Oncology (NASDAQ:ELEV) last posted its earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.02).

Institutional Investors Weigh In On Elevation Oncology

Several hedge funds have recently bought and sold shares of ELEV. Frazier Life Sciences Management L.P. lifted its holdings in shares of Elevation Oncology by 102.6% during the third quarter. Frazier Life Sciences Management L.P. now owns 5,993,579 shares of the company’s stock valued at $3,596,000 after purchasing an additional 3,035,000 shares during the last quarter. Logos Global Management LP grew its stake in shares of Elevation Oncology by 285.0% in the second 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. Affinity Asset Advisors LLC raised its position in shares of Elevation Oncology by 15.8% in the 2nd quarter. Affinity Asset Advisors LLC now owns 1,468,825 shares of the company’s stock worth $3,966,000 after purchasing an additional 200,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in Elevation Oncology by 7.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,110,085 shares of the company’s stock worth $666,000 after purchasing an additional 78,509 shares in the last quarter. Finally, Sphera Funds Management LTD. grew its position in Elevation Oncology by 227.2% during the 3rd quarter. Sphera Funds Management LTD. now owns 1,079,762 shares of the company’s stock valued at $648,000 after purchasing an additional 749,762 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.

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.