Elevation Oncology, Inc. (NASDAQ:ELEV – Get Rating) – Stock analysts at Wedbush increased their FY2023 earnings per share (EPS) estimates for shares of Elevation Oncology in a note issued to investors on Monday, January 23rd. Wedbush analyst R. Driscoll now anticipates that the company will post earnings of ($2.39) per share for the year, up from their prior forecast of ($2.57). The consensus estimate for Elevation Oncology's current full-year earnings is ($3.97) per share. Wedbush also issued estimates for Elevation Oncology's FY2024 earnings at ($1.58) EPS, FY2025 earnings at ($1.09) EPS and FY2026 earnings at ($0.86) EPS.
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Elevation Oncology (NASDAQ:ELEV – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($1.67) EPS for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.55).
A number of other research firms have also recently commented on ELEV. SVB Leerink cut Elevation Oncology from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $11.00 to $2.00 in a report on Monday, November 7th. JPMorgan Chase & Co. cut Elevation Oncology from a "neutral" rating to an "underweight" rating in a report on Thursday, November 10th.
Elevation Oncology Stock Up 10.9 %
NASDAQ ELEV opened at $1.02 on Wednesday. The stock's 50 day moving average is $0.98 and its 200 day moving average is $1.11. The company has a current ratio of 7.29, a quick ratio of 7.29 and a debt-to-equity ratio of 0.44. Elevation Oncology has a 12 month low of $0.72 and a 12 month high of $5.20. The stock has a market cap of $23.77 million, a PE ratio of -0.28 and a beta of 0.30.
Institutional Trading of Elevation Oncology
Large investors have recently added to or reduced their stakes in the company. Millennium Management LLC bought a new stake in Elevation Oncology in the 2nd quarter worth approximately $30,000. Virtu Financial LLC bought a new stake in Elevation Oncology in the 2nd quarter worth approximately $31,000. Annandale Capital LLC bought a new stake in Elevation Oncology in the 3rd quarter worth approximately $34,000. Renaissance Technologies LLC increased its position in shares of Elevation Oncology by 53.0% during the 1st quarter. Renaissance Technologies LLC now owns 25,400 shares of the company's stock valued at $64,000 after purchasing an additional 8,800 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Elevation Oncology by 57.4% during the 1st quarter. BlackRock Inc. now owns 38,218 shares of the company's stock valued at $96,000 after purchasing an additional 13,936 shares during the last quarter. Institutional investors own 68.01% of the company's stock.
About Elevation Oncology
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Elevation Oncology, Inc, a clinical-stage biopharmaceutical company, focuses on developing therapeutics for the treatment of cancer in genomically defined patient populations in the United States. The company's lead program is the seribantumab, an anti-HER3 monoclonal antibody that is in Phase II CRESTONE trial for the treatment of advanced solid tumors harboring a neuregulin-1 fusion.
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