Elicio Therapeutics, Inc. (NASDAQ:ELTX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Elicio Therapeutics, Inc. (NASDAQ:ELTX) have received an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $20.25.

Several equities research analysts have commented on the company. Wall Street Zen lowered shares of Elicio Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Elicio Therapeutics in a report on Friday, April 24th. HC Wainwright reiterated a “buy” rating and issued a $17.00 price target on shares of Elicio Therapeutics in a research report on Thursday, May 28th. Rodman & Renshaw upgraded shares of Elicio Therapeutics to a “strong-buy” rating in a report on Tuesday, March 10th. Finally, LADENBURG THALM/SH SH began coverage on Elicio Therapeutics in a research note on Wednesday, April 15th. They set a “buy” rating and a $20.00 target price on the stock.

Institutional Investors Weigh In On Elicio Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in Elicio Therapeutics by 186.8% during the third 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. acquired a new stake in Elicio Therapeutics during the 2nd quarter valued at approximately $46,000. Summit Financial LLC bought a new stake in shares of Elicio Therapeutics during the 4th quarter valued at about $80,000. HighTower Advisors LLC bought a new stake in Elicio Therapeutics in the fourth quarter worth about $89,000. Finally, Jane Street Group LLC acquired a new stake in shares of Elicio Therapeutics in the first quarter worth $92,000. 35.03% of the stock is currently owned by institutional investors and hedge funds.

Elicio Therapeutics Price Performance

NASDAQ ELTX traded up $1.08 on Wednesday, hitting $15.28. The company had a trading volume of 43,342 shares, compared to its average volume of 131,782. Elicio Therapeutics has a 12-month low of $7.37 and a 12-month high of $16.00. The company has a market capitalization of $291.70 million, a PE ratio of -6.37 and a beta of 1.13. The company’s fifty day moving average price is $11.13 and its 200-day moving average price is $9.83. The company has a debt-to-equity ratio of 5.75, a current ratio of 2.24 and a quick ratio of 2.24.

Elicio Therapeutics (NASDAQ:ELTX) last announced its earnings results on Monday, May 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.16). As a group, analysts predict that Elicio Therapeutics will post -1.87 earnings per share for the current year.

Elicio Therapeutics Company Profile

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.