HC Wainwright Downgrades Elevation Oncology (NASDAQ:ELEV) to Neutral

Elevation Oncology (NASDAQ:ELEV) was downgraded by analysts at HC Wainwright from a “strong-buy” rating to a “neutral” rating in a research note issued on Tuesday, Marketbeat reports. HC Wainwright also issued estimates for Elevation Oncology’s Q3 2026 earnings at ($0.11) EPS.

Several other brokerages also recently commented on ELEV. Wedbush downgraded shares of Elevation Oncology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. William Blair cut shares of Elevation Oncology from a “strong-buy” rating to a “hold” rating in a report on Monday. Citigroup lowered shares of Elevation Oncology to a “market perform” rating in a report on Friday, March 21st. Citizens Jmp downgraded Elevation Oncology from an “outperform” rating to a “market perform” rating in a research note on Friday, March 21st. Finally, Stephens restated an “equal weight” rating and issued a $1.00 price target (down previously from $5.00) on shares of Elevation Oncology in a research note on Monday, March 24th. Eleven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $3.39.

Elevation Oncology Stock Down 0.8%

Shares of ELEV traded down $0.00 during mid-day trading on Tuesday, reaching $0.38. The company had a trading volume of 1,007,673 shares, compared to its average volume of 1,499,352. The company has a debt-to-equity ratio of 0.45, a quick ratio of 17.77 and a current ratio of 17.77. The company has a market capitalization of $22.48 million, a price-to-earnings ratio of -0.46 and a beta of 1.43. The firm has a 50-day moving average price of $0.32 and a 200 day moving average price of $0.49. Elevation Oncology has a 52 week low of $0.22 and a 52 week high of $3.60.

Elevation Oncology (NASDAQ:ELEV) last released its earnings results on Thursday, May 15th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.04). On average, sell-side analysts forecast that Elevation Oncology will post -0.84 EPS for the current year.

Institutional Trading of Elevation Oncology

Several large investors have recently modified their holdings of the company. Barclays PLC grew its stake in shares of Elevation Oncology by 21.5% during the 4th quarter. Barclays PLC now owns 87,608 shares of the company’s stock valued at $49,000 after purchasing an additional 15,531 shares during the period. SG Americas Securities LLC grew its position in Elevation Oncology by 33.9% during the fourth quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock valued at $35,000 after buying an additional 15,560 shares during the period. Bank of America Corp DE increased its holdings in Elevation Oncology by 42.5% during the fourth quarter. Bank of America Corp DE now owns 56,839 shares of the company’s stock valued at $32,000 after buying an additional 16,962 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Elevation Oncology by 47.8% during the fourth quarter. Two Sigma Advisers LP now owns 84,400 shares of the company’s stock valued at $47,000 after buying an additional 27,300 shares during the last quarter. Finally, Millennium Management LLC raised its position in Elevation Oncology by 3.9% in the fourth quarter. Millennium Management LLC now owns 815,916 shares of the company’s stock worth $459,000 after acquiring an additional 30,466 shares during the period. Institutional investors own 83.70% of the company’s stock.

Elevation Oncology Company Profile

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.