Elicio Therapeutics (NASDAQ:ELTX) Issues Earnings Results

Elicio Therapeutics (NASDAQ:ELTX) posted its quarterly earnings data on Thursday. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.11, FiscalAI reports.

Elicio Therapeutics Price Performance

Shares of NASDAQ:ELTX traded up $0.09 during midday trading on Thursday, hitting $3.15. The company’s stock had a trading volume of 139,473 shares, compared to its average volume of 767,514. The company has a market cap of $60.13 million, a P/E ratio of -1.31 and a beta of 1.30. Elicio Therapeutics has a 12-month low of $2.66 and a 12-month high of $16.00. The business’s 50 day simple moving average is $4.87 and its 200 day simple moving average is $8.50. The company has a debt-to-equity ratio of 5.75, a quick ratio of 2.24 and a current ratio of 2.24.

Institutional Trading of Elicio Therapeutics

A number of hedge funds have recently bought and sold shares of ELTX. Bank of America Corp DE lifted its stake in Elicio Therapeutics by 186.8% in the 3rd quarter. Bank of America Corp DE now owns 3,585 shares of the company’s stock worth $39,000 after purchasing an additional 2,335 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Elicio Therapeutics in the second quarter valued at approximately $46,000. Summit Financial LLC acquired a new stake in shares of Elicio Therapeutics in the fourth quarter valued at approximately $80,000. HighTower Advisors LLC acquired a new stake in shares of Elicio Therapeutics in the fourth quarter valued at approximately $89,000. Finally, Jane Street Group LLC purchased a new position in Elicio Therapeutics during the first quarter worth approximately $92,000. Institutional investors and hedge funds own 35.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ELTX. B. Riley Financial initiated coverage on Elicio Therapeutics in a research note on Wednesday, June 10th. They set a “buy” rating and a $27.00 price objective for the company. Weiss Ratings downgraded Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th. HC Wainwright lifted their price target on Elicio Therapeutics from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Rodman & Renshaw reiterated a “buy” rating on shares of Elicio Therapeutics in a research report on Monday, June 15th. Finally, LADENBURG THALM/SH SH began coverage on Elicio Therapeutics in a research note on Thursday, June 18th. They issued a “buy” rating and a $12.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $19.75.

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.