Elevation Oncology (NASDAQ:ELEV) Issues Quarterly Earnings Results

Elevation Oncology (NASDAQ:ELEV) issued its quarterly earnings results on Tuesday. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.23) by $0.05, Zacks reports.

Elevation Oncology Stock Down 3.9 %

NASDAQ:ELEV traded down $0.03 during trading hours on Wednesday, hitting $0.75. 4,730,748 shares of the company traded hands, compared to its average volume of 1,898,730. The company has a market cap of $40.98 million, a PE ratio of -0.72 and a beta of 1.38. Elevation Oncology has a one year low of $0.36 and a one year high of $5.83. The company has a quick ratio of 46.22, a current ratio of 46.22 and a debt-to-equity ratio of 0.41. The firm’s 50-day simple moving average is $2.90 and its 200-day simple moving average is $3.50.

Analysts Set New Price Targets

ELEV has been the topic of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $7.00 price target on shares of Elevation Oncology in a research note on Monday, July 15th. Stephens began coverage on shares of Elevation Oncology in a report on Tuesday, May 14th. They issued an “overweight” rating and a $8.00 target price for the company. Wedbush reiterated an “outperform” rating and issued a $8.00 price objective on shares of Elevation Oncology in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of Elevation Oncology in a research report on Wednesday. Finally, Piper Sandler initiated coverage on shares of Elevation Oncology in a research report on Friday, May 31st. They issued an “overweight” rating and a $10.00 price target for the company. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Elevation Oncology presently has an average rating of “Buy” and an average price target of $7.80.

Elevation Oncology Company 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.