Elevation Oncology (NASDAQ:ELEV) Now Covered by William Blair

William Blair initiated coverage on shares of Elevation Oncology (NASDAQ:ELEV) in a research note issued on Friday, MarketBeat.com reports. The firm set an “outperform” rating on the stock.

Other research analysts also recently issued research reports about the stock. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Elevation Oncology in a research report on Friday, December 13th. JMP Securities reissued a “market outperform” rating and set a $7.00 target price on shares of Elevation Oncology in a report on Thursday, December 19th. Finally, Stephens reaffirmed an “overweight” rating and issued a $5.00 price target on shares of Elevation Oncology in a research note on Friday, December 6th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Elevation Oncology presently has a consensus rating of “Buy” and a consensus price target of $7.20.

Elevation Oncology Stock Performance

Shares of ELEV stock opened at $0.66 on Friday. The company has a market capitalization of $39.24 million, a P/E ratio of -0.81 and a beta of 1.24. Elevation Oncology has a 12-month low of $0.50 and a 12-month high of $5.83. The business’s 50 day moving average is $0.61 and its two-hundred day moving average is $1.12. The company has a current ratio of 17.77, a quick ratio of 17.77 and a debt-to-equity ratio of 0.45.

Elevation Oncology (NASDAQ:ELEV) last released its quarterly 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). Analysts expect that Elevation Oncology will post -0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ELEV. SG Americas Securities LLC purchased a new position in Elevation Oncology during the third quarter worth approximately $28,000. JPMorgan Chase & Co. raised its holdings in shares of Elevation Oncology by 175.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 61,334 shares of the company’s stock worth $37,000 after acquiring an additional 39,101 shares during the period. Barclays PLC boosted its position in shares of Elevation Oncology by 302.4% during the 3rd quarter. Barclays PLC now owns 72,077 shares of the company’s stock valued at $43,000 after acquiring an additional 54,167 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Elevation Oncology in the second quarter valued at about $103,000. Finally, American Century Companies Inc. increased its position in Elevation Oncology by 55.7% during the second quarter. American Century Companies Inc. now owns 49,222 shares of the company’s stock worth $133,000 after purchasing an additional 17,602 shares during the last quarter. 83.70% of the stock is currently owned by institutional investors and hedge funds.

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.