Frazier Life Sciences Management L.P. Has $3.60 Million Stock Position in Elevation Oncology, Inc. (NASDAQ:ELEV)

Frazier Life Sciences Management L.P. boosted its stake in shares of Elevation Oncology, Inc. (NASDAQ:ELEV) by 102.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,993,579 shares of the company’s stock after buying an additional 3,035,000 shares during the period. Frazier Life Sciences Management L.P. owned about 10.14% of Elevation Oncology worth $3,596,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ELEV. SG Americas Securities LLC purchased a new position in shares of Elevation Oncology in the third quarter worth approximately $28,000. Barclays PLC boosted its stake in Elevation Oncology by 302.4% in the 3rd quarter. Barclays PLC now owns 72,077 shares of the company’s stock worth $43,000 after purchasing an additional 54,167 shares during the period. XTX Topco Ltd purchased a new position in Elevation Oncology during the 2nd quarter worth approximately $103,000. American Century Companies Inc. raised its stake in Elevation Oncology by 55.7% during the 2nd quarter. American Century Companies Inc. now owns 49,222 shares of the company’s stock valued at $133,000 after purchasing an additional 17,602 shares during the period. Finally, Rhumbline Advisers purchased a new stake in shares of Elevation Oncology in the second quarter valued at $175,000. 83.70% of the stock is owned by hedge funds and other institutional investors.

Elevation Oncology Stock Up 7.9 %

Elevation Oncology stock opened at $0.65 on Tuesday. Elevation Oncology, Inc. has a twelve month low of $0.44 and a twelve month high of $5.83. 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 firm has a market cap of $38.26 million, a PE ratio of -0.79 and a beta of 1.24. The firm’s 50 day moving average price is $0.58 and its two-hundred day moving average price is $1.50.

Elevation Oncology (NASDAQ:ELEV) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.02). On average, research analysts predict that Elevation Oncology, Inc. will post -0.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Stephens reiterated an “overweight” rating and set a $5.00 price target on shares of Elevation Oncology in a report on Friday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Elevation Oncology has a consensus rating of “Buy” and an average price target of $7.20.

Elevation Oncology 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.