FY2029 Earnings Forecast for ELEV Issued By HC Wainwright

Elevation Oncology, Inc. (NASDAQ:ELEV) – Analysts at HC Wainwright issued their FY2029 earnings estimates for shares of Elevation Oncology in a research report issued on Friday, March 21st. HC Wainwright analyst S. Ramakanth expects that the company will earn ($0.40) per share for the year. HC Wainwright has a “Buy” rating and a $1.00 price target on the stock. The consensus estimate for Elevation Oncology’s current full-year earnings is ($0.84) per share.

Elevation Oncology (NASDAQ:ELEV) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04.

Several other equities research analysts have also recently commented on ELEV. Stephens reaffirmed an “equal weight” rating and set a $1.00 price objective (down from $5.00) on shares of Elevation Oncology in a research report on Monday. Citizens Jmp lowered shares of Elevation Oncology from an “outperform” rating to a “market perform” rating in a research note on Friday, March 21st. William Blair reissued an “outperform” rating and set a $5.00 price objective on shares of Elevation Oncology in a report on Friday, March 7th. JMP Securities restated a “market outperform” rating and issued a $7.00 target price on shares of Elevation Oncology in a report on Thursday, December 19th. Finally, Piper Sandler lowered shares of Elevation Oncology from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $10.00 to $0.70 in a research note on Friday, March 21st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Elevation Oncology has an average rating of “Hold” and an average target price of $3.39.

Elevation Oncology Stock Performance

Shares of ELEV opened at $0.28 on Monday. The company has a market cap of $16.76 million, a price-to-earnings ratio of -0.35 and a beta of 1.37. The business’s fifty day simple moving average is $0.58 and its two-hundred day simple moving average is $0.59. Elevation Oncology has a 12 month low of $0.24 and a 12 month high of $5.83. The company has a current ratio of 17.77, a quick ratio of 17.77 and a debt-to-equity ratio of 0.45.

Institutional Trading of Elevation Oncology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Velan Capital Investment Management LP bought a new stake in shares of Elevation Oncology during the 4th quarter valued at $25,000. Two Sigma Advisers LP lifted its position 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 purchasing an additional 27,300 shares in the last quarter. Stonepine Capital Management LLC bought a new stake in Elevation Oncology during the fourth quarter valued at about $113,000. Millennium Management LLC increased 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 buying an additional 30,466 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in shares of Elevation Oncology by 550.5% in the fourth quarter. Deutsche Bank AG now owns 188,771 shares of the company’s stock worth $106,000 after buying an additional 159,751 shares during the period. 83.70% of the stock is owned by hedge funds and other 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.