Analysts Set Elevation Oncology, Inc. (NASDAQ:ELEV) Target Price at $7.20

Elevation Oncology, Inc. (NASDAQ:ELEV) has been given an average recommendation of “Buy” by the six research firms that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued a report on the stock in the last year is $7.20.

Several research firms recently weighed in on ELEV. HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Elevation Oncology in a research report on Tuesday, January 14th. JMP Securities reissued a “market outperform” rating and issued a $7.00 target price on shares of Elevation Oncology in a research note on Thursday, December 19th. Stephens restated an “overweight” rating and set a $5.00 price target on shares of Elevation Oncology in a research report on Friday, December 6th. Finally, William Blair initiated coverage on Elevation Oncology in a research report on Friday, January 3rd. They issued an “outperform” rating for the company.

Hedge Funds Weigh In On Elevation Oncology

Several hedge funds and other institutional investors have recently modified their holdings of ELEV. SG Americas Securities LLC bought a new position in shares of Elevation Oncology in the third quarter worth approximately $28,000. JPMorgan Chase & Co. boosted its holdings in Elevation Oncology by 175.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 61,334 shares of the company’s stock worth $37,000 after buying an additional 39,101 shares during the period. Palumbo Wealth Management LLC increased its stake in Elevation Oncology by 294.5% in the 4th quarter. Palumbo Wealth Management LLC now owns 69,105 shares of the company’s stock worth $39,000 after buying an additional 51,590 shares in the last quarter. Barclays PLC raised its holdings in Elevation Oncology by 302.4% during the third quarter. Barclays PLC now owns 72,077 shares of the company’s stock valued at $43,000 after acquiring an additional 54,167 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Elevation Oncology in the second quarter valued at about $103,000. 83.70% of the stock is owned by institutional investors.

Elevation Oncology Stock Up 7.8 %

Shares of NASDAQ ELEV opened at $0.67 on Tuesday. The company has a quick ratio of 17.77, a current ratio of 17.77 and a debt-to-equity ratio of 0.45. The company has a market cap of $39.41 million, a P/E ratio of -0.81 and a beta of 1.28. Elevation Oncology has a 52 week low of $0.50 and a 52 week high of $5.83. The business has a 50-day simple moving average of $0.65 and a two-hundred day simple moving average of $0.87.

Elevation Oncology (NASDAQ:ELEV) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). Research analysts anticipate that Elevation Oncology will post -0.84 earnings per share 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.