Elevation Oncology (NASDAQ:ELEV) Now Covered by William Blair

William Blair started coverage on shares of Elevation Oncology (NASDAQ:ELEV) in a research note issued to investors on Friday, Marketbeat.com reports. The firm issued an outperform rating on the stock.

A number of other brokerages have also weighed in on ELEV. Stephens restated an “overweight” rating and issued a $5.00 price objective on shares of Elevation Oncology in a report on Friday, December 6th. JMP Securities restated a “market outperform” rating and issued a $7.00 price objective on shares of Elevation Oncology in a report on Thursday, December 19th. Finally, HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Elevation Oncology in a report on Friday, December 13th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $7.20.

Elevation Oncology Price Performance

Elevation Oncology stock opened at $0.66 on Friday. The firm has a market cap of $39.24 million, a PE ratio of -0.81 and a beta of 1.24. Elevation Oncology has a 52-week low of $0.50 and a 52-week 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’s 50 day moving average is $0.61 and its two-hundred day moving average is $1.13.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ELEV. Bank of New York Mellon Corp purchased a new position in shares of Elevation Oncology in the 2nd quarter valued at $415,000. Rhumbline Advisers purchased a new position in shares of Elevation Oncology in the 2nd quarter valued at $175,000. American Century Companies Inc. grew its position in shares of Elevation Oncology by 55.7% in the 2nd quarter. American Century Companies Inc. now owns 49,222 shares of the company’s stock valued at $133,000 after buying an additional 17,602 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Elevation Oncology in the 2nd quarter valued at $103,000. Finally, Logos Global Management LP grew its position in shares of Elevation Oncology by 285.0% in the 2nd 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. 83.70% of the stock is 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.