Elevation Oncology’s (ELEV) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Elevation Oncology (NASDAQ:ELEV) in a research note released on Friday morning,Benzinga reports. The firm currently has a $6.00 target price on the stock.

Separately, Stephens reaffirmed an “overweight” rating and set a $5.00 price target on shares of Elevation Oncology in a report on Friday, December 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Elevation Oncology currently has an average rating of “Buy” and a consensus target price of $7.20.

Elevation Oncology Price Performance

Shares of NASDAQ ELEV opened at $0.64 on Friday. The firm has a market cap of $37.61 million, a P/E ratio of -0.78 and a beta of 1.24. Elevation Oncology has a twelve month low of $0.44 and a twelve month high of $5.83. 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 50 day moving average of $0.59 and a 200 day moving average of $1.44.

Elevation Oncology (NASDAQ:ELEV) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.02). As a group, research analysts expect that Elevation Oncology will post -0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ELEV. SG Americas Securities LLC purchased a new stake in shares of Elevation Oncology during the 3rd quarter valued at about $28,000. Barclays PLC grew its position 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 buying an additional 54,167 shares during the period. XTX Topco Ltd purchased a new stake in Elevation Oncology during the second quarter valued at approximately $103,000. American Century Companies Inc. raised its position in Elevation Oncology by 55.7% in the second quarter. American Century Companies Inc. now owns 49,222 shares of the company’s stock worth $133,000 after acquiring an additional 17,602 shares during the period. Finally, Rhumbline Advisers bought a new stake in shares of Elevation Oncology during the 2nd quarter valued at $175,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

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.