Elevation Oncology (NASDAQ:ELEV) Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Elevation Oncology (NASDAQ:ELEVGet Rating) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Elevation Oncology Inc. is a clinical stage biopharmaceutical company. It focused on the development of precision medicines for patients with genomically defined cancers. Elevation Oncology Inc. is based in NEW YORK. “

Separately, Wedbush cut their price target on shares of Elevation Oncology from $21.00 to $15.00 and set an outperform rating for the company in a report on Friday, May 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Buy and an average target price of $14.39.

ELEV stock opened at $3.57 on Tuesday. Elevation Oncology has a one year low of $2.28 and a one year high of $16.22. The stock has a market capitalization of $83.02 million and a PE ratio of -0.55. The company has a fifty day moving average of $2.75 and a 200-day moving average of $4.58.

Elevation Oncology (NASDAQ:ELEVGet Rating) last announced its quarterly earnings results on Thursday, March 3rd. The company reported ($0.41) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.18. Equities research analysts forecast that Elevation Oncology will post -2.84 earnings per share for the current year.

A number of large investors have recently bought and sold shares of ELEV. TCG Crossover Management LLC purchased a new position in Elevation Oncology during the 4th quarter valued at about $3,341,000. Sio Capital Management LLC purchased a new stake in shares of Elevation Oncology during the fourth quarter worth about $1,505,000. Janus Henderson Group PLC grew its holdings in shares of Elevation Oncology by 18.3% during the third quarter. Janus Henderson Group PLC now owns 1,220,205 shares of the company’s stock worth $9,380,000 after buying an additional 188,517 shares in the last quarter. Marquette Asset Management LLC grew its holdings in shares of Elevation Oncology by 332.5% during the first quarter. Marquette Asset Management LLC now owns 38,951 shares of the company’s stock worth $98,000 after buying an additional 29,945 shares in the last quarter. Finally, BlackRock Inc. purchased a new stake in shares of Elevation Oncology during the third quarter worth about $186,000. Hedge funds and other institutional investors own 95.78% of the company’s stock.

About Elevation Oncology (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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