Elevation Oncology’s (ELEV) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Elevation Oncology (NASDAQ:ELEV) in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has a $7.00 price objective on the stock.

Several other research firms have also recently commented on ELEV. Stephens restated an “overweight” rating and issued a $5.00 target price on shares of Elevation Oncology in a research report on Friday, December 6th. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Elevation Oncology in a research note on Friday, December 13th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $7.20.

Elevation Oncology Trading Up 3.1 %

ELEV traded up $0.02 on Thursday, hitting $0.65. The company had a trading volume of 196,740 shares, compared to its average volume of 1,472,973. The firm has a market cap of $38.13 million, a P/E ratio of -0.79 and a beta of 1.24. Elevation Oncology has a 1 year low of $0.44 and a 1 year high of $5.83. The company has a current ratio of 17.77, a quick ratio of 17.77 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average price is $0.60 and its 200 day moving average price is $1.35.

Elevation Oncology (NASDAQ:ELEV) last issued its 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). As a group, equities analysts expect that Elevation Oncology will post -0.85 earnings per share for the current year.

Hedge Funds Weigh In On Elevation Oncology

Several large investors have recently modified their holdings of the business. XTX Topco Ltd bought a new position in Elevation Oncology in the 2nd quarter valued at $103,000. SG Americas Securities LLC purchased a new stake in Elevation Oncology in the third quarter worth about $28,000. American Century Companies Inc. grew 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 worth $133,000 after purchasing an additional 17,602 shares during the period. Rhumbline Advisers bought a new position in Elevation Oncology in the 2nd quarter worth about $175,000. Finally, Barclays PLC raised its stake in shares of Elevation Oncology by 302.4% in the third quarter. Barclays PLC now owns 72,077 shares of the company’s stock worth $43,000 after purchasing an additional 54,167 shares during the last quarter. 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.