Elevation Oncology (ELEV) Projected to Post Earnings on Wednesday

Elevation Oncology (NASDAQ:ELEV) will likely be issuing its quarterly earnings data before the market opens on Wednesday, March 5th. Analysts expect the company to announce earnings of ($0.22) per share for the quarter.

Elevation Oncology Stock Down 9.2 %

Shares of ELEV stock opened at $0.54 on Wednesday. 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 has a twelve month low of $0.50 and a twelve month high of $5.83. The stock has a 50 day moving average of $0.65 and a 200 day moving average of $0.63. The stock has a market cap of $31.68 million, a P/E ratio of -0.65 and a beta of 1.31.

Hedge Funds Weigh In On Elevation Oncology

An institutional investor recently raised its position in Elevation Oncology stock. Bank of America Corp DE increased its stake in shares of Elevation Oncology, Inc. (NASDAQ:ELEV) by 42.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,839 shares of the company’s stock after purchasing an additional 16,962 shares during the period. Bank of America Corp DE owned 0.10% of Elevation Oncology worth $32,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 83.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ELEV shares. JMP Securities reiterated a “market outperform” rating and issued a $7.00 target price on shares of Elevation Oncology in a research note on Thursday, December 19th. HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Elevation Oncology in a research report on Tuesday, January 14th. Stephens restated an “overweight” rating and set a $5.00 target price on shares of Elevation Oncology in a research report on Friday, December 6th. Finally, William Blair began coverage on Elevation Oncology in a research note on Friday, January 3rd. They issued an “outperform” rating for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $7.20.

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.