Elevation Oncology (NASDAQ:ELEV) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright restated their buy rating on shares of Elevation Oncology (NASDAQ:ELEVGet Rating) in a report issued on Monday, Stock Target Advisor reports. The firm currently has a $7.50 price target on the stock.

A number of other research firms have also issued reports on ELEV. SVB Leerink reiterated an outperform rating on shares of Elevation Oncology in a research note on Wednesday, July 27th. Wedbush lowered their target price on shares of Elevation Oncology from $15.00 to $8.00 and set an outperform rating on the stock in a research note on Friday, July 29th. Finally, JPMorgan Chase & Co. lowered shares of Elevation Oncology from an overweight rating to a neutral rating in a research note on Monday, August 8th.

Elevation Oncology Stock Down 1.8 %

Shares of ELEV opened at $1.12 on Monday. The company’s fifty day moving average is $1.26 and its 200-day moving average is $2.04. Elevation Oncology has a 12 month low of $1.02 and a 12 month high of $9.34. The firm has a market cap of $26.08 million, a price-to-earnings ratio of -0.44 and a beta of 0.82.

Elevation Oncology (NASDAQ:ELEVGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.06). As a group, research analysts predict that Elevation Oncology will post -3.75 earnings per share for the current fiscal year.

Institutional Trading of Elevation Oncology

Several hedge funds and other institutional investors have recently bought and sold shares of ELEV. Sio Capital Management LLC acquired a new stake in Elevation Oncology in the 4th quarter worth $1,505,000. Kennedy Capital Management Inc. acquired a new stake in Elevation Oncology in the 4th quarter worth $93,000. TCG Crossover Management LLC acquired a new stake in Elevation Oncology in the 4th quarter worth $3,341,000. Bailard Inc. acquired a new stake in Elevation Oncology in the 1st quarter worth $59,000. Finally, Marquette Asset Management LLC grew its position in Elevation Oncology by 332.5% in the 1st quarter. Marquette Asset Management LLC now owns 38,951 shares of the company’s stock worth $98,000 after purchasing an additional 29,945 shares during the last quarter. 74.04% of the stock is currently owned by institutional investors and hedge funds.

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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