Elevation Oncology (NASDAQ:ELEV) Downgraded by HC Wainwright to Neutral

Elevation Oncology (NASDAQ:ELEV) was downgraded by stock analysts at HC Wainwright from a “strong-buy” rating to a “neutral” rating in a report issued on Tuesday, June 10th, Marketbeat.com reports. HC Wainwright also issued estimates for Elevation Oncology’s Q4 2025 earnings at ($0.17) EPS, FY2025 earnings at ($0.71) EPS, Q1 2026 earnings at ($0.18) EPS, Q2 2026 earnings at ($0.19) EPS, Q3 2026 earnings at ($0.11) EPS, Q4 2026 earnings at ($0.13) EPS, FY2026 earnings at ($0.57) EPS, FY2027 earnings at ($0.46) EPS and FY2029 earnings at ($0.39) EPS.

A number of other brokerages also recently weighed in on ELEV. Stephens reaffirmed an “equal weight” rating and set a $1.00 price objective (down previously from $5.00) on shares of Elevation Oncology in a research report on Monday, March 24th. Leerink Partnrs cut Elevation Oncology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 20th. Citigroup downgraded Elevation Oncology to a “market perform” rating in a research note on Friday, March 21st. William Blair cut Elevation Oncology from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Finally, Piper Sandler lowered shares of Elevation Oncology from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $10.00 to $0.70 in a research report on Friday, March 21st. Eleven analysts have rated the stock with a hold rating, Based on data from MarketBeat, Elevation Oncology has a consensus rating of “Hold” and a consensus price target of $3.39.

Elevation Oncology Trading Down 1.0%

NASDAQ:ELEV traded down $0.00 during mid-day trading on Tuesday, reaching $0.38. The stock had a trading volume of 349,888 shares, compared to its average volume of 1,507,783. The company has a quick ratio of 19.40, a current ratio of 19.40 and a debt-to-equity ratio of 0.67. Elevation Oncology has a 1-year low of $0.22 and a 1-year high of $3.28. The stock’s 50 day simple moving average is $0.34 and its two-hundred day simple moving average is $0.48.

Elevation Oncology (NASDAQ:ELEV) last posted its quarterly earnings results on Thursday, May 15th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.04). Research analysts anticipate that Elevation Oncology will post -0.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its position in Elevation Oncology by 33.9% in the fourth quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock worth $35,000 after purchasing an additional 15,560 shares during the period. Palumbo Wealth Management LLC raised its stake in shares of Elevation Oncology by 294.5% in the 4th quarter. Palumbo Wealth Management LLC now owns 69,105 shares of the company’s stock worth $39,000 after buying an additional 51,590 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Elevation Oncology in the fourth quarter valued at $36,000. JPMorgan Chase & Co. boosted its stake in Elevation Oncology by 194.1% during the fourth quarter. JPMorgan Chase & Co. now owns 180,375 shares of the company’s stock valued at $101,000 after buying an additional 119,041 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Elevation Oncology by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 1,157,572 shares of the company’s stock worth $651,000 after acquiring an additional 47,487 shares during the period. Institutional investors and hedge funds own 83.70% of the company’s stock.

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.