HC Wainwright Reaffirms Buy Rating for Elevation Oncology (NASDAQ:ELEV)

HC Wainwright restated their buy rating on shares of Elevation Oncology (NASDAQ:ELEV) in a research note issued to investors on Monday,Benzinga reports. HC Wainwright currently has a $6.00 price target on the stock. HC Wainwright also issued estimates for Elevation Oncology’s Q1 2025 earnings at ($0.21) EPS, Q2 2025 earnings at ($0.22) EPS, Q3 2025 earnings at ($0.23) EPS, FY2025 earnings at ($0.90) EPS and FY2026 earnings at ($0.90) EPS.

A number of other equities analysts have also commented on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 price target on shares of Elevation Oncology in a research report on Thursday, December 19th. Stephens reaffirmed an “overweight” rating and set a $5.00 price target on shares of Elevation Oncology in a research report on Friday, March 7th. Finally, William Blair reaffirmed an “outperform” rating and set a $5.00 price target on shares of Elevation Oncology in a research report on Friday, March 7th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $6.83.

Elevation Oncology Stock Performance

NASDAQ ELEV opened at $0.51 on Monday. The firm has a 50-day moving average of $0.63 and a 200-day moving average of $0.62. 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 stock has a market cap of $30.21 million, a PE ratio of -0.62 and a beta of 1.37. Elevation Oncology has a 52-week low of $0.41 and a 52-week high of $5.83.

Elevation Oncology (NASDAQ:ELEV) last posted its earnings results on Thursday, March 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. On average, sell-side analysts anticipate that Elevation Oncology will post -0.84 EPS for the current year.

Hedge Funds Weigh In On Elevation Oncology

Hedge funds have recently bought and sold shares of the company. Velan Capital Investment Management LP bought a new position in Elevation Oncology in the 4th quarter valued at about $25,000. Bank of America Corp DE increased its holdings in Elevation Oncology by 42.5% in the 4th 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 period. JPMorgan Chase & Co. increased its holdings in Elevation Oncology by 175.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 61,334 shares of the company’s stock valued at $37,000 after buying an additional 39,101 shares during the period. SG Americas Securities LLC grew its holdings in shares of Elevation Oncology by 33.9% during the 4th quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock valued at $35,000 after purchasing an additional 15,560 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of Elevation Oncology during the 4th quarter valued at approximately $35,000. 83.70% of the stock is owned by institutional investors.

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.