Elevation Oncology’s (ELEV) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of Elevation Oncology (NASDAQ:ELEV) in a research report report published on Friday morning, Benzinga reports. JMP Securities currently has a $7.00 price objective on the stock.

Other analysts have also recently issued research reports about the company. Piper Sandler assumed coverage on Elevation Oncology in a research report on Friday, May 31st. They set an overweight rating and a $10.00 price target for the company. HC Wainwright reaffirmed a buy rating and set a $6.00 price target on shares of Elevation Oncology in a research report on Tuesday, April 9th. Stephens assumed coverage on Elevation Oncology in a research report on Tuesday, May 14th. They set an overweight rating and a $8.00 price target for the company. Finally, Wedbush reaffirmed an outperform rating and set a $8.00 price target on shares of Elevation Oncology in a research report on Friday, May 3rd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Elevation Oncology presently has an average rating of Buy and an average price target of $7.80.

Elevation Oncology Stock Up 5.9 %

Shares of NASDAQ ELEV opened at $2.86 on Friday. The company has a current ratio of 46.22, a quick ratio of 46.22 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $156.27 million, a PE ratio of -2.75 and a beta of 1.39. The stock’s fifty day simple moving average is $3.46 and its two-hundred day simple moving average is $3.25. Elevation Oncology has a 12-month low of $0.36 and a 12-month high of $5.83.

Elevation Oncology (NASDAQ:ELEV) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). As a group, analysts expect that Elevation Oncology will post -0.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Elevation Oncology

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in shares of Elevation Oncology during the 1st quarter valued at about $63,000. Affinity Asset Advisors LLC purchased a new position in shares of Elevation Oncology during the 1st quarter valued at about $6,509,000. Artal Group S.A. purchased a new position in shares of Elevation Oncology during the 1st quarter valued at about $7,762,000. Vanguard Group Inc. raised its stake in shares of Elevation Oncology by 30.8% during the 1st quarter. Vanguard Group Inc. now owns 1,532,045 shares of the company’s stock valued at $7,859,000 after buying an additional 360,799 shares during the last quarter. Finally, Darwin Global Management Ltd. purchased a new position in shares of Elevation Oncology in the 1st quarter valued at about $11,968,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.