Elicio Therapeutics, Inc. (NASDAQ:ELTX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Elicio Therapeutics, Inc. (NASDAQ:ELTX) have earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $19.75.

Several research analysts recently issued reports on the stock. Rodman & Renshaw reissued a “buy” rating on shares of Elicio Therapeutics in a report on Monday, June 15th. LADENBURG THALM/SH SH began coverage on Elicio Therapeutics in a research note on Thursday, June 18th. They set a “buy” rating and a $12.00 price objective for the company. Wall Street Zen cut Elicio Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. B. Riley Financial began coverage on Elicio Therapeutics in a research note on Wednesday, June 10th. They issued a “buy” rating and a $27.00 target price on the stock. Finally, HC Wainwright raised their target price on Elicio Therapeutics from $17.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, June 15th.

Elicio Therapeutics Stock Performance

NASDAQ ELTX traded down $0.01 during trading hours on Friday, reaching $3.48. The stock had a trading volume of 477,010 shares, compared to its average volume of 4,713,780. The stock has a fifty day moving average of $8.35 and a 200 day moving average of $9.30. The stock has a market cap of $66.43 million, a P/E ratio of -1.45 and a beta of 1.26. Elicio Therapeutics has a 52-week low of $2.66 and a 52-week high of $16.00. The company has a debt-to-equity ratio of 5.75, a quick ratio of 2.24 and a current ratio of 2.24.

Elicio Therapeutics (NASDAQ:ELTX) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.16). Sell-side analysts predict that Elicio Therapeutics will post -2.08 earnings per share for the current year.

Institutional Trading of Elicio Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of Elicio Therapeutics by 186.8% in the third quarter. Bank of America Corp DE now owns 3,585 shares of the company’s stock worth $39,000 after acquiring an additional 2,335 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Elicio Therapeutics in the 2nd quarter valued at about $46,000. Summit Financial LLC purchased a new position in Elicio Therapeutics during the fourth quarter worth approximately $80,000. HB Wealth Management LLC purchased a new position in Elicio Therapeutics during the first quarter worth approximately $112,000. Finally, HighTower Advisors LLC acquired a new stake in Elicio Therapeutics in the fourth quarter valued at approximately $89,000. 35.03% of the stock is owned by hedge funds and other institutional investors.

Elicio Therapeutics Company Profile

Angion Biomedica Corp. is a late-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of novel small molecule therapeutics to address acute organ injuries and fibrotic diseases. Angion Biomedica Corp. is based in UNIONDALE, N.Y.