HC Wainwright Reiterates “Buy” Rating for Elevation Oncology (NASDAQ:ELEV)

HC Wainwright restated their buy rating on shares of Elevation Oncology (NASDAQ:ELEVGet Rating) in a report published on Monday morning, Marketbeat.com reports. HC Wainwright currently has a $7.50 price objective on the stock.

ELEV has been the subject of several other research reports. JPMorgan Chase & Co. downgraded shares of Elevation Oncology from an overweight rating to a neutral rating in a report on Monday, August 8th. Wedbush dropped their target price on shares of Elevation Oncology from $15.00 to $8.00 and set an outperform rating for the company in a report on Friday, July 29th. Finally, SVB Leerink reiterated an outperform rating on shares of Elevation Oncology in a report on Wednesday, July 27th.

Elevation Oncology Price Performance

Shares of NASDAQ ELEV opened at $1.03 on Monday. The company has a 50 day simple moving average of $1.24 and a 200-day simple moving average of $2.01. The company has a market capitalization of $23.99 million, a P/E ratio of -0.41 and a beta of 0.82. Elevation Oncology has a 1 year low of $0.98 and a 1 year high of $8.99.

Elevation Oncology (NASDAQ:ELEVGet Rating) last posted its earnings results on Thursday, August 4th. The company reported ($0.86) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.06). As a group, research analysts expect that Elevation Oncology will post -3.54 EPS for the current year.

Hedge Funds Weigh In On Elevation Oncology

Institutional investors have recently modified their holdings of the business. Sio Capital Management LLC acquired a new position in shares of Elevation Oncology in the fourth quarter worth $1,505,000. TCG Crossover Management LLC purchased a new stake in Elevation Oncology in the fourth quarter valued at $3,341,000. Marquette Asset Management LLC lifted its position in Elevation Oncology by 332.5% in the first 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 during the last quarter. Renaissance Technologies LLC lifted its position in Elevation Oncology by 917.3% in the second quarter. Renaissance Technologies LLC now owns 258,400 shares of the company’s stock valued at $362,000 after acquiring an additional 233,000 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Elevation Oncology by 57.4% in the first quarter. BlackRock Inc. now owns 38,218 shares of the company’s stock valued at $96,000 after acquiring an additional 13,936 shares during the last quarter. Institutional investors and hedge funds own 74.04% of the company’s stock.

Elevation Oncology Company Profile

(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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