William Blair Reaffirms “Outperform” Rating for Elevation Oncology (NASDAQ:ELEV)

Elevation Oncology (NASDAQ:ELEV)‘s stock had its “outperform” rating reiterated by equities researchers at William Blair in a research note issued on Friday,RTT News reports. They presently have a $5.00 price objective on the stock. William Blair also issued estimates for Elevation Oncology’s Q2 2025 earnings at ($0.21) EPS, Q3 2025 earnings at ($0.21) EPS and Q4 2025 earnings at ($0.24) EPS.

Other equities analysts have also issued reports about the stock. Stephens reaffirmed an “overweight” rating and issued a $5.00 price objective on shares of Elevation Oncology in a research report on Friday. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Elevation Oncology in a research note on Tuesday, January 14th. Finally, JMP Securities reissued a “market outperform” rating and issued a $7.00 target price on shares of Elevation Oncology in a research report on Thursday, December 19th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $6.83.

Elevation Oncology Price Performance

Shares of ELEV opened at $0.51 on Friday. The company has a 50 day moving average of $0.64 and a two-hundred day moving average of $0.62. The company has a quick ratio of 17.77, a current ratio of 17.77 and a debt-to-equity ratio of 0.45. Elevation Oncology has a twelve month low of $0.41 and a twelve month high of $5.83. The company has a market cap of $30.20 million, a price-to-earnings ratio of -0.62 and a beta of 1.37.

Elevation Oncology (NASDAQ:ELEV) last announced its earnings results on Thursday, March 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. As a group, analysts predict that Elevation Oncology will post -0.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ELEV. Velan Capital Investment Management LP purchased a new stake in Elevation Oncology in the fourth quarter valued at $25,000. Bank of America Corp DE grew its holdings in Elevation Oncology by 42.5% during the fourth quarter. Bank of America Corp DE now owns 56,839 shares of the company’s stock worth $32,000 after acquiring an additional 16,962 shares during the period. SG Americas Securities LLC raised its position in Elevation Oncology by 33.9% during the fourth quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock valued at $35,000 after acquiring an additional 15,560 shares in the last quarter. Two Sigma Securities LLC purchased a new position in Elevation Oncology during the fourth quarter valued at approximately $35,000. Finally, Virtu Financial LLC acquired a new position in Elevation Oncology in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 83.70% of the company’s stock.

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.