Brokerages Set Elicio Therapeutics, Inc. (NASDAQ:ELTX) PT at $19.75

Elicio Therapeutics, Inc. (NASDAQ:ELTX) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $19.75.

ELTX has been the subject of several research analyst reports. Rodman & Renshaw reaffirmed a “buy” rating on shares of Elicio Therapeutics in a research report on Monday, June 15th. Wall Street Zen cut shares of Elicio Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings downgraded shares of Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 29th. LADENBURG THALM/SH SH assumed coverage on shares of Elicio Therapeutics in a report on Thursday, June 18th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, JonesTrading cut Elicio Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 16th.

Elicio Therapeutics Price Performance

Shares of Elicio Therapeutics stock opened at $3.19 on Thursday. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 5.75. The company has a market cap of $60.90 million, a PE ratio of -1.33 and a beta of 1.30. The business has a 50 day moving average of $5.73 and a 200 day moving average of $8.68. Elicio Therapeutics has a 52 week low of $2.66 and a 52 week high of $16.00.

Elicio Therapeutics (NASDAQ:ELTX) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.16). As a group, equities research analysts forecast that Elicio Therapeutics will post -2.08 earnings per share for the current year.

Institutional Investors Weigh In On Elicio Therapeutics

Several hedge funds have recently made changes to their positions in ELTX. Bank of America Corp DE grew its stake in Elicio Therapeutics by 1,225.2% in the first quarter. Bank of America Corp DE now owns 15,333 shares of the company’s stock worth $164,000 after purchasing an additional 14,176 shares during the period. Renaissance Technologies LLC lifted its position in Elicio Therapeutics by 332.7% during the first quarter. Renaissance Technologies LLC now owns 121,631 shares of the company’s stock valued at $1,300,000 after buying an additional 93,520 shares during the period. HB Wealth Management LLC purchased a new position in Elicio Therapeutics during the first quarter valued at $112,000. Quadrature Capital Ltd bought a new stake in shares of Elicio Therapeutics during the 4th quarter valued at $137,000. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of Elicio Therapeutics during the 4th quarter valued at $126,000. 35.03% of the stock is currently owned by institutional investors.

About Elicio Therapeutics

Angion Biomedica Corp. is a late-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of novel small molecule therapeutics to address acute organ injuries and fibrotic diseases. Angion Biomedica Corp. is based in UNIONDALE, N.Y.