Elevation Oncology Inc (ELEV) Stock: A Closer Look at the Market Potential

Company’s 36-month beta value is 1.37.Analysts have differing opinions on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”

The public float for ELEV is 39.81M, and currently, short sellers hold a 11.62% ratio of that floaft. The average trading volume of ELEV on April 03, 2024 was 3.08M shares.

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ELEV) stock’s latest price update

Elevation Oncology Inc (NASDAQ: ELEV)’s stock price has increased by 2.81 compared to its previous closing price of 4.99. However, the company has seen a 12.01% increase in its stock price over the last five trading sessions. InvestorPlace reported 2024-03-08 that Personalized health screening from a “smart toilet”

ELEV’s Market Performance

Elevation Oncology Inc (ELEV) has seen a 12.01% rise in stock performance for the week, with a 2.40% gain in the past month and a 855.31% surge in the past quarter. The volatility ratio for the week is 8.57%, and the volatility levels for the past 30 days are at 10.85% for ELEV. The simple moving average for the last 20 days is 12.71% for ELEV stock, with a simple moving average of 223.25% for the last 200 days.

Analysts’ Opinion of ELEV

Many brokerage firms have already submitted their reports for ELEV stocks, with JMP Securities repeating the rating for ELEV by listing it as a “Mkt Outperform.” The predicted price for ELEV in the upcoming period, according to JMP Securities is $7 based on the research report published on March 01, 2024 of the current year 2024.

SVB Securities, on the other hand, stated in their research note that they expect to see ELEV reach a price target of $8, previously predicting the price at $5. The rating they have provided for ELEV stocks is “Outperform” according to the report published on May 30th, 2023.

H.C. Wainwright gave a rating of “Buy” to ELEV, setting the target price at $12 in the report published on December 23rd of the previous year.

ELEV Trading at 41.65% from the 50-Day Moving Average

After a stumble in the market that brought ELEV to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -12.90% of loss for the given period.

Volatility was left at 10.85%, however, over the last 30 days, the volatility rate increased by 8.57%, as shares surge +6.65% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +102.77% upper at present.

During the last 5 trading sessions, ELEV rose by +12.01%, which changed the moving average for the period of 200-days by +235.29% in comparison to the 20-day moving average, which settled at $4.57. In addition, Elevation Oncology Inc saw 855.31% in overturn over a single year, with a tendency to cut further gains.

Stock Fundamentals for ELEV

The total capital return value is set at -0.53. Equity return is now at value -88.03, with -49.88 for asset returns.

Based on Elevation Oncology Inc (ELEV), the company’s capital structure generated 0.35 points at debt to capital in total, while cash flow to debt ratio is standing at -1.86. The debt to equity ratio resting at 0.55. The interest coverage ratio of the stock is -10.15.

Currently, EBITDA for the company is -40.3 million with net debt to EBITDA at 0.54. The liquidity ratio also appears to be rather interesting for investors as it stands at 21.22.

Conclusion

In a nutshell, Elevation Oncology Inc (ELEV) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

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