Elevation Oncology (NASDAQ:ELEV) Earns Neutral Rating from HC Wainwright

Elevation Oncology (NASDAQ:ELEV)‘s stock had its “neutral” rating restated by equities researchers at HC Wainwright in a research note issued on Tuesday,Benzinga reports.

Several other research firms have also recently issued reports on ELEV. Citigroup cut Elevation Oncology to a “market perform” rating in a research note on Friday, March 21st. Citizens Jmp lowered shares of Elevation Oncology from an “outperform” rating to a “market perform” rating in a report on Friday, March 21st. Leerink Partnrs lowered Elevation Oncology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. William Blair reissued a “market perform” rating on shares of Elevation Oncology in a research report on Monday. Finally, Stephens reiterated an “equal weight” rating and set a $1.00 price objective (down previously from $5.00) on shares of Elevation Oncology in a research note on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $3.39.

Elevation Oncology Trading Down 0.1%

NASDAQ:ELEV traded down $0.00 during midday trading on Tuesday, reaching $0.38. 1,415,361 shares of the stock traded hands, compared to its average volume of 1,489,808. The stock has a market capitalization of $22.74 million, a P/E ratio of -0.47 and a beta of 1.43. 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 company has a fifty day moving average of $0.32 and a 200 day moving average of $0.49. Elevation Oncology has a 12 month low of $0.22 and a 12 month high of $3.66.

Elevation Oncology (NASDAQ:ELEV) last issued its quarterly earnings data on Thursday, May 15th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). On average, research analysts predict that Elevation Oncology will post -0.84 EPS for the current year.

Institutional Investors Weigh In On Elevation Oncology

Large investors have recently bought and sold shares of the business. BML Capital Management LLC bought a new stake in shares of Elevation Oncology in the first quarter worth approximately $1,526,000. Allostery Investments LP purchased a new stake in Elevation Oncology during the 4th quarter valued at $243,000. Palumbo Wealth Management LLC lifted its holdings in shares of Elevation Oncology by 302.3% during the 1st quarter. Palumbo Wealth Management LLC now owns 278,002 shares of the company’s stock valued at $72,000 after buying an additional 208,897 shares during the period. Stonepine Capital Management LLC bought a new stake in shares of Elevation Oncology in the fourth quarter worth $113,000. Finally, Nuveen LLC purchased a new stake in Elevation Oncology during the first quarter valued at $45,000. 83.70% of the stock is currently owned by institutional investors.

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.