Elevation Oncology (NASDAQ:ELEV) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Elevation Oncology (NASDAQ:ELEV) announced its quarterly earnings data on Thursday. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04, Zacks reports.

Elevation Oncology Price Performance

NASDAQ ELEV opened at $0.51 on Friday. Elevation Oncology has a fifty-two week low of $0.41 and a fifty-two week high of $5.83. The business’s fifty day moving average is $0.64 and its 200 day moving average is $0.63. The company has a market capitalization of $30.20 million, a PE ratio of -0.62 and a beta of 1.37. The company has a debt-to-equity ratio of 0.45, a quick ratio of 17.77 and a current ratio of 17.77.

Institutional Trading of Elevation Oncology

A hedge fund recently raised its stake in Elevation Oncology stock. Bank of America Corp DE boosted its stake in Elevation Oncology, Inc. (NASDAQ:ELEV) by 42.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,839 shares of the company’s stock after buying an additional 16,962 shares during the quarter. Bank of America Corp DE owned approximately 0.10% of Elevation Oncology worth $32,000 at the end of the most recent reporting period. 83.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $7.00 target price on shares of Elevation Oncology in a report on Thursday, December 19th. William Blair started coverage on Elevation Oncology in a research report on Friday, January 3rd. They issued an “outperform” rating for the company. HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Elevation Oncology in a research report on Tuesday, January 14th. Finally, Stephens reaffirmed an “overweight” rating and set a $5.00 price target on shares of Elevation Oncology in a research note on Friday, December 6th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $7.20.

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.