Elevation Oncology, Inc. (NASDAQ:ELEV) Given Consensus Rating of “Buy” by Analysts

Elevation Oncology, Inc. (NASDAQ:ELEV – Get Rating) has received a consensus rating of “Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $17.82.

A number of research firms have weighed in on ELEV. Wedbush lowered their price target on Elevation Oncology from $27.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, March 4th. Zacks Investment Research upgraded Elevation Oncology from a “sell” rating to a “hold” rating in a research report on Tuesday, March 8th.

Shares of ELEV stock opened at $2.44 on Wednesday. Elevation Oncology has a 52-week low of $2.28 and a 52-week high of $16.22. The business’s fifty day moving average is $2.85 and its 200 day moving average is $5.01.

Elevation Oncology (NASDAQ:ELEV – Get Rating) last issued its quarterly earnings data on Thursday, March 3rd. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.17. On average, analysts predict that Elevation Oncology will post -2.06 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Janus Henderson Group PLC grew its stake in shares of Elevation Oncology by 18.3% in the third quarter. Janus Henderson Group PLC now owns 1,220,205 shares of the company’s stock worth $9,380,000 after purchasing an additional 188,517 shares during the last quarter. TCG Crossover Management LLC bought a new stake in Elevation Oncology during the 4th quarter valued at approximately $3,341,000. Sio Capital Management LLC bought a new stake in Elevation Oncology during the 4th quarter valued at approximately $1,505,000. Caxton Corp boosted its position in Elevation Oncology by 21.7% during the 3rd quarter. Caxton Corp now owns 48,183 shares of the company’s stock valued at $375,000 after acquiring an additional 8,597 shares in the last quarter. Finally, Marquette Asset Management LLC boosted its position in Elevation Oncology by 332.5% during the 1st quarter. Marquette Asset Management LLC now owns 38,951 shares of the company’s stock valued at $98,000 after acquiring an additional 29,945 shares in the last quarter. 78.42% of the stock is currently owned by institutional investors.

About Elevation Oncology (Get Rating)

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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