Elevation Oncology (NASDAQ:ELEV) Earns “Market Outperform” Rating from JMP Securities

Elevation Oncology (NASDAQ:ELEVGet Free Report)‘s stock had its “market outperform” rating restated by JMP Securities in a research report issued on Thursday,Benzinga reports. They currently have a $7.00 price target on the stock.

Other research analysts also recently issued reports about the stock. Stephens reissued an “overweight” rating and set a $5.00 price objective on shares of Elevation Oncology in a research report on Friday, December 6th. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Elevation Oncology in a report on Friday, December 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $7.20.

View Our Latest Stock Report on Elevation Oncology

Elevation Oncology Stock Down 7.3 %

Elevation Oncology stock opened at $0.58 on Thursday. The company has a market capitalization of $34.29 million, a P/E ratio of -0.71 and a beta of 1.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 17.77 and a current ratio of 17.77. Elevation Oncology has a fifty-two week low of $0.44 and a fifty-two week high of $5.83. The stock has a 50-day simple moving average of $0.60 and a 200-day simple moving average of $1.33.

Elevation Oncology (NASDAQ:ELEVGet Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). Equities research analysts expect that Elevation Oncology will post -0.85 earnings per share for the current year.

Hedge Funds Weigh In On Elevation Oncology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp purchased a new stake in shares of Elevation Oncology in the second quarter valued at approximately $415,000. Rhumbline Advisers acquired a new stake in Elevation Oncology in the second quarter valued at $175,000. American Century Companies Inc. lifted its holdings in Elevation Oncology by 55.7% in the second quarter. American Century Companies Inc. now owns 49,222 shares of the company’s stock valued at $133,000 after acquiring an additional 17,602 shares during the period. XTX Topco Ltd purchased a new stake in shares of Elevation Oncology during the 2nd quarter worth $103,000. Finally, Logos Global Management LP grew its stake in shares of Elevation Oncology by 285.0% during the 2nd quarter. Logos Global Management LP now owns 3,850,000 shares of the company’s stock worth $10,395,000 after purchasing an additional 2,850,000 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

About Elevation Oncology

(Get Free Report)

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.

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Analyst Recommendations for Elevation Oncology (NASDAQ:ELEV)

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