HC Wainwright Reaffirms Buy Rating for Elevation Oncology (NASDAQ:ELEV)

Elevation Oncology (NASDAQ:ELEV)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $6.00 price target on the stock.

Separately, Stephens reiterated an “overweight” rating and set a $5.00 price target on shares of Elevation Oncology in a report on Friday, December 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $7.20.

Elevation Oncology Stock Down 7.0 %

Elevation Oncology stock opened at $0.67 on Friday. Elevation Oncology has a twelve month low of $0.44 and a twelve month high of $5.83. The company has a debt-to-equity ratio of 0.45, a quick ratio of 17.77 and a current ratio of 17.77. The firm has a market cap of $39.59 million, a PE ratio of -0.82 and a beta of 1.24. The firm’s 50 day moving average price is $0.59 and its two-hundred day moving average price is $1.46.

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

Hedge Funds Weigh In On Elevation Oncology

Several institutional investors have recently bought and sold shares of the stock. Frazier Life Sciences Management L.P. boosted its stake in shares of Elevation Oncology by 102.6% during 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 acquiring an additional 3,035,000 shares in the last quarter. Logos Global Management LP grew its holdings in Elevation Oncology by 285.0% during the second quarter. Logos Global Management LP now owns 3,850,000 shares of the company’s stock valued at $10,395,000 after purchasing an additional 2,850,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in Elevation Oncology by 30.8% during the first quarter. Vanguard Group Inc. now owns 1,532,045 shares of the company’s stock valued at $7,859,000 after purchasing an additional 360,799 shares during the last quarter. Affinity Asset Advisors LLC raised its position in shares of Elevation Oncology by 15.8% in the second quarter. Affinity Asset Advisors LLC now owns 1,468,825 shares of the company’s stock valued at $3,966,000 after purchasing an additional 200,000 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Elevation Oncology by 7.6% in the third quarter. Geode Capital Management LLC now owns 1,110,085 shares of the company’s stock worth $666,000 after buying an additional 78,509 shares during the last quarter. 83.70% of the stock is currently owned by 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.