Sio Capital Management LLC boosted its position in Elevation Oncology, Inc. (NASDAQ:ELEV – Free Report) by 143.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 876,611 shares of the company’s stock after purchasing an additional 516,880 shares during the quarter. Elevation Oncology comprises approximately 0.8% of Sio Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. Sio Capital Management LLC owned about 3.69% of Elevation Oncology worth $1,666,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in Elevation Oncology by 53.0% in 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. BlackRock Inc. raised its stake in Elevation Oncology by 57.4% in 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. Annandale Capital LLC raised its stake in Elevation Oncology by 66.7% in the 4th quarter. Annandale Capital LLC now owns 50,000 shares of the company’s stock valued at $48,000 after purchasing an additional 20,000 shares during the last quarter. Millennium Management LLC acquired a new position in Elevation Oncology in the 2nd quarter valued at $30,000. Finally, Virtu Financial LLC acquired a new position in Elevation Oncology in the 2nd quarter valued at $31,000. 83.70% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have issued reports on the company. SVB Securities upgraded Elevation Oncology from a “market perform” rating to an “outperform” rating and upped their target price for the company from $5.00 to $8.00 in a report on Tuesday, May 30th. SVB Leerink upgraded Elevation Oncology from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.38.
Elevation Oncology Stock Down 1.9 %
Shares of NASDAQ:ELEV opened at $0.70 on Friday. The stock has a market cap of $29.66 million, a P/E ratio of -0.10 and a beta of 0.33. The company has a quick ratio of 13.00, a current ratio of 13.00 and a debt-to-equity ratio of 0.41. Elevation Oncology, Inc. has a 52-week low of $0.65 and a 52-week high of $5.89. The business has a fifty day moving average of $1.13 and a two-hundred day moving average of $1.91.
Elevation Oncology (NASDAQ:ELEV – Get Free Report) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.09). On average, research analysts expect that Elevation Oncology, Inc. will post -1.56 earnings per share for the current year.
About Elevation Oncology
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.
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