Elevation Oncology (NASDAQ:ELEV) Lowered to “Market Perform” Rating by Citizens Jmp

Elevation Oncology (NASDAQ:ELEV) was downgraded by investment analysts at Citizens Jmp from an “outperform” rating to a “market perform” rating in a report released on Friday, MarketBeat reports.

Several other research analysts also recently commented on the stock. Stephens reaffirmed an “overweight” rating and issued a $5.00 price objective on shares of Elevation Oncology in a report on Friday, March 7th. William Blair reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of Elevation Oncology in a report on Friday, March 7th. JMP Securities reissued a “market outperform” rating and issued a $7.00 price target on shares of Elevation Oncology in a report on Thursday, December 19th. HC Wainwright cut their price target on shares of Elevation Oncology from $6.00 to $1.00 and set a “buy” rating for the company in a report on Friday. Finally, Piper Sandler downgraded shares of Elevation Oncology from an “overweight” rating to a “neutral” rating and cut their price target for the company from $10.00 to $0.70 in a report on Friday. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.96.

Elevation Oncology Stock Up 7.9 %

Elevation Oncology stock opened at $0.30 on Friday. The firm has a 50 day moving average price of $0.59 and a 200-day moving average price of $0.60. The company has a market capitalization of $17.77 million, a P/E ratio of -0.37 and a beta of 1.37. Elevation Oncology has a twelve month low of $0.24 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.

Elevation Oncology (NASDAQ:ELEV) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.04. As a group, equities analysts predict that Elevation Oncology will post -0.84 EPS for the current year.

Institutional Trading of Elevation Oncology

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

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.