Elevation Oncology (NASDAQ:ELEV) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Elevation Oncology (NASDAQ:ELEV) released its earnings results on Tuesday. The company reported ($0.18) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.05, Zacks reports.

Elevation Oncology Stock Performance

Shares of NASDAQ:ELEV traded down $0.03 during trading on Wednesday, hitting $0.75. 4,730,748 shares of the company traded hands, compared to its average volume of 1,898,730. The stock has a market capitalization of $40.98 million, a price-to-earnings ratio of -0.72 and a beta of 1.38. The business’s fifty day moving average is $2.90 and its 200-day moving average is $3.50. Elevation Oncology has a one year low of $0.36 and a one year high of $5.83. The company has a quick ratio of 46.22, a current ratio of 46.22 and a debt-to-equity ratio of 0.41.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Elevation Oncology in a research report on Friday, May 31st. They issued an “overweight” rating and a $10.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $8.00 target price on shares of Elevation Oncology in a research report on Tuesday. Stephens assumed coverage on shares of Elevation Oncology in a research report on Tuesday, May 14th. They issued an “overweight” rating and a $8.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Elevation Oncology in a research report on Wednesday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price objective on shares of Elevation Oncology in a research report on Monday, July 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $7.80.

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.