Elevation Oncology, Inc. (NASDAQ:ELEV) Given Average Recommendation of “Buy” by Analysts

Shares of Elevation Oncology, Inc. (NASDAQ:ELEV) have been assigned a consensus recommendation of “Buy” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $7.20.

Several equities analysts have recently commented on ELEV shares. JMP Securities reiterated a “market outperform” rating and set a $7.00 target price on shares of Elevation Oncology in a research note on Thursday, December 19th. William Blair started coverage on shares of Elevation Oncology in a research note on Friday. They set an “outperform” rating on the stock. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Elevation Oncology in a report on Friday, December 13th. Finally, Stephens restated an “overweight” rating and issued a $5.00 target price on shares of Elevation Oncology in a research note on Friday, December 6th.

Elevation Oncology Stock Performance

Shares of ELEV stock opened at $0.60 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 17.77 and a quick ratio of 17.77. The company’s fifty day moving average price is $0.60 and its two-hundred day moving average price is $1.14. The firm has a market capitalization of $35.18 million, a P/E ratio of -0.73 and a beta of 1.24. Elevation Oncology has a 12 month low of $0.50 and a 12 month high of $5.83.

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

Institutional Trading of Elevation Oncology

Several institutional investors have recently added to or reduced their stakes in the business. Frazier Life Sciences Management L.P. lifted its holdings in shares of Elevation Oncology by 102.6% in the 3rd quarter. Frazier Life Sciences Management L.P. now owns 5,993,579 shares of the company’s stock worth $3,596,000 after purchasing an additional 3,035,000 shares during the last quarter. Logos Global Management LP lifted its stake in Elevation Oncology by 285.0% in the second quarter. Logos Global Management LP now owns 3,850,000 shares of the company’s stock valued at $10,395,000 after buying an additional 2,850,000 shares during the last quarter. Affinity Asset Advisors LLC boosted its holdings in shares of Elevation Oncology by 15.8% during the second quarter. Affinity Asset Advisors LLC now owns 1,468,825 shares of the company’s stock valued at $3,966,000 after acquiring an additional 200,000 shares during the period. Geode Capital Management LLC grew its position in shares of Elevation Oncology by 7.6% during the third quarter. Geode Capital Management LLC now owns 1,110,085 shares of the company’s stock worth $666,000 after acquiring an additional 78,509 shares during the last quarter. Finally, Sphera Funds Management LTD. increased its holdings in shares of Elevation Oncology by 227.2% in the 3rd quarter. Sphera Funds Management LTD. now owns 1,079,762 shares of the company’s stock worth $648,000 after acquiring an additional 749,762 shares during the period. 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.