Elevation Oncology (NASDAQ:ELEV – Get Rating) had its price target cut by analysts at SVB Leerink from $2.00 to $1.00 in a report released on Monday, Benzinga reports. The firm presently has a "market perform" rating on the stock. SVB Leerink's price objective would suggest a potential upside of 21.97% from the company's previous close.
Several other research firms also recently issued reports on ELEV. HC Wainwright restated a "buy" rating and issued a $7.50 price objective on shares of Elevation Oncology in a research note on Monday, September 19th. JPMorgan Chase & Co. cut Elevation Oncology from a "neutral" rating to an "underweight" rating in a research report on Thursday, November 10th.
Get Elevation Oncology alerts:Elevation Oncology Stock Up 9.3 %
Elevation Oncology stock traded up $0.07 during trading on Monday, reaching $0.82. The stock had a trading volume of 24,037 shares, compared to its average volume of 300,992. Elevation Oncology has a 52-week low of $0.72 and a 52-week high of $6.87. The business has a 50 day moving average price of $0.97 and a 200 day moving average price of $1.15. The company has a quick ratio of 7.29, a current ratio of 7.29 and a debt-to-equity ratio of 0.44. The stock has a market cap of $19.10 million, a PE ratio of -0.22 and a beta of 0.29.
Elevation Oncology (NASDAQ:ELEV – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($1.67) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.55). On average, analysts predict that Elevation Oncology will post -3.97 EPS for the current year.Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in ELEV. Renaissance Technologies LLC increased its position in Elevation Oncology by 53.0% during the 1st quarter. Renaissance Technologies LLC now owns 25,400 shares of the company's stock worth $64,000 after purchasing an additional 8,800 shares during the period. BlackRock Inc. boosted 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 worth $96,000 after purchasing an additional 13,936 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Elevation Oncology during the 2nd quarter worth $30,000. Virtu Financial LLC acquired a new position in shares of Elevation Oncology during the 2nd quarter worth $31,000. Finally, Annandale Capital LLC acquired a new position in shares of Elevation Oncology during the 3rd quarter worth $34,000. 68.01% of the stock is currently owned by institutional investors and hedge funds.
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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