Elevation Oncology’s (ELEV) Overweight Rating Reiterated at Stephens

Stephens restated their overweight rating on shares of Elevation Oncology (NASDAQ:ELEV) in a research note released on Friday morning,Benzinga reports. The brokerage currently has a $5.00 target price on the stock.

Elevation Oncology Stock Performance

Shares of ELEV stock opened at $0.60 on Friday. Elevation Oncology has a 12 month low of $0.44 and a 12 month high of $5.83. The company’s fifty day simple moving average is $0.58 and its 200-day simple moving average is $1.52. The firm has a market cap of $35.47 million, a PE ratio of -0.73 and a beta of 1.24. The company has a quick ratio of 17.77, a current ratio of 17.77 and a debt-to-equity ratio of 0.45.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in shares of Elevation Oncology during the 2nd quarter worth approximately $103,000. SG Americas Securities LLC acquired a new position in Elevation Oncology during the third quarter worth $28,000. American Century Companies Inc. raised its position in Elevation Oncology by 55.7% during 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 in the last quarter. Rhumbline Advisers acquired a new stake in Elevation Oncology in the second quarter valued at $175,000. Finally, Barclays PLC grew its position in shares of Elevation Oncology by 302.4% in the 3rd 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. 83.70% of the stock is owned by institutional investors and hedge funds.

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.