Braidwell LP Lowers Position in Elevation Oncology, Inc. (NASDAQ:ELEV)

Braidwell LP trimmed its position in shares of Elevation Oncology, Inc. (NASDAQ:ELEV) by 80.9% during the third quarter, Holdings Channel.com reports. The fund owned 473,503 shares of the company’s stock after selling 2,004,111 shares during the quarter. Braidwell LP’s holdings in Elevation Oncology were worth $284,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ELEV. XTX Topco Ltd bought a new position in shares of Elevation Oncology during the second quarter valued at about $103,000. SG Americas Securities LLC purchased a new stake in Elevation Oncology in the 3rd quarter valued at about $28,000. American Century Companies Inc. lifted its position in shares of Elevation Oncology by 55.7% during the 2nd quarter. American Century Companies Inc. now owns 49,222 shares of the company’s stock worth $133,000 after buying an additional 17,602 shares in the last quarter. Rhumbline Advisers purchased a new position in shares of Elevation Oncology in the 2nd quarter worth approximately $175,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Elevation Oncology in the 2nd quarter worth approximately $415,000. Institutional investors own 83.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wedbush reaffirmed an “outperform” rating and set a $8.00 price target on shares of Elevation Oncology in a research report on Tuesday, August 6th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Elevation Oncology in a research report on Wednesday, August 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $7.80.

Elevation Oncology Trading Down 0.2 %

NASDAQ:ELEV opened at $0.62 on Friday. Elevation Oncology, Inc. has a 12 month low of $0.44 and a 12 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. The firm’s 50 day moving average is $0.58 and its 200 day moving average is $1.68.

Elevation Oncology (NASDAQ:ELEV) last released its earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). Equities research analysts expect that Elevation Oncology, Inc. will post -0.84 earnings per share for the current fiscal year.

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.