Elevation Oncology (NASDAQ:ELEV) Receives “Outperform” Rating from William Blair

William Blair restated their outperform rating on shares of Elevation Oncology (NASDAQ:ELEV) in a research report sent to investors on Friday,RTT News reports. William Blair currently has a $5.00 price objective on the stock.

A number of other brokerages also recently issued reports on ELEV. JMP Securities reiterated a “market outperform” rating and issued a $7.00 price objective on shares of Elevation Oncology in a research report on Thursday, December 19th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price target on shares of Elevation Oncology in a report on Tuesday, January 14th. Finally, Stephens reissued an “overweight” rating and set a $5.00 price objective on shares of Elevation Oncology in a report on Friday. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $6.83.

Elevation Oncology Trading Down 0.0 %

Shares of ELEV opened at $0.51 on Friday. Elevation Oncology has a twelve month low of $0.41 and a twelve month high of $5.83. The stock has a market cap of $30.20 million, a PE ratio of -0.62 and a beta of 1.37. 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 business’s 50-day moving average price is $0.64 and its 200-day moving average price is $0.63.

Elevation Oncology (NASDAQ:ELEV) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.04. On average, equities analysts forecast that Elevation Oncology will post -0.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Elevation Oncology

Hedge funds and other institutional investors have recently modified their holdings of the company. Velan Capital Investment Management LP purchased a new position in shares of Elevation Oncology during the 4th quarter valued at about $25,000. Bank of America Corp DE grew its position in Elevation Oncology by 42.5% during the fourth quarter. Bank of America Corp DE now owns 56,839 shares of the company’s stock valued at $32,000 after acquiring an additional 16,962 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Elevation Oncology by 33.9% during the fourth quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock worth $35,000 after acquiring an additional 15,560 shares in the last quarter. Two Sigma Securities LLC bought a new stake in shares of Elevation Oncology in the 4th quarter worth approximately $35,000. Finally, Virtu Financial LLC bought a new stake in shares of Elevation Oncology in the 4th quarter worth approximately $36,000. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

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.