Elevation Oncology, Inc. (NASDAQ:ELEV) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in Elevation Oncology, Inc. (NASDAQ:ELEV) by 175.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,334 shares of the company’s stock after acquiring an additional 39,101 shares during the period. JPMorgan Chase & Co.’s holdings in Elevation Oncology were worth $37,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Barclays PLC raised its position in shares of Elevation Oncology by 302.4% during the 3rd quarter. Barclays PLC now owns 72,077 shares of the company’s stock worth $43,000 after purchasing an additional 54,167 shares during the period. Geode Capital Management LLC increased its position in Elevation Oncology by 7.6% in the third quarter. Geode Capital Management LLC now owns 1,110,085 shares of the company’s stock worth $666,000 after buying an additional 78,509 shares during the period. Frazier Life Sciences Management L.P. lifted its stake in Elevation Oncology by 102.6% in 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 buying an additional 3,035,000 shares during the last quarter. Sphera Funds Management LTD. boosted its holdings in shares of Elevation Oncology by 227.2% during the third quarter. Sphera Funds Management LTD. now owns 1,079,762 shares of the company’s stock valued at $648,000 after acquiring an additional 749,762 shares during the period. Finally, State Street Corp grew its position in shares of Elevation Oncology by 13.5% during the third quarter. State Street Corp now owns 1,018,026 shares of the company’s stock worth $611,000 after acquiring an additional 120,993 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Elevation Oncology Stock Up 0.6 %

ELEV stock opened at $0.64 on Wednesday. The firm’s 50-day moving average is $0.65 and its two-hundred day moving average is $0.79. The company has a market capitalization of $38.08 million, a price-to-earnings ratio of -0.79 and a beta of 1.31. Elevation Oncology, Inc. has a 52 week low of $0.50 and a 52 week high of $5.83. 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 forecast that Elevation Oncology, Inc. will post -0.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Stephens reiterated an “overweight” rating and issued a $5.00 price objective on shares of Elevation Oncology in a research report on Friday, December 6th. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price target on shares of Elevation Oncology in a report on Thursday, December 19th. William Blair assumed coverage on Elevation Oncology in a report on Friday, January 3rd. They issued an “outperform” rating for the company. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Elevation Oncology in a research report on Tuesday, January 14th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $7.20.

Elevation Oncology 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.