Elevation Oncology Inc (NASDAQ: ELEV) has experienced a decline in its stock price by -0.37 compared to its previous closing price of 2.71. However, the company has seen a fall of -9.85% in its stock price over the last five trading days. prnewswire.com reported 2024-06-27 that — Plan to evaluate EO-3021 in combination with ramucirumab and dostarlimab; entered into clinical supply agreements with Lilly and GSK, respectively — — Expect to initiate dosing in combination portion of the Phase 1 trial by year-end 2024 — — Combination cohorts broaden market opportunity for EO-3021 to address unmet needs across second- and first-line gastric or gastroesophageal junction cancer settings — — On-track to provide update from ongoing Phase 1 clinical trial evaluating monotherapy EO-3021 by mid-3Q 2024, with additional data in 1H 2025 — BOSTON, June 27, 2024 /PRNewswire/ — Elevation Oncology, Inc. (Nasdaq: ELEV), an innovative oncology company focused on the discovery and development of selective cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs, today announced plans to expand its ongoing Phase 1 clinical trial to include two combination cohorts evaluating EO-3021 for the treatment of advanced gastric or gastroesophageal junction cancer. Following recently signed clinical supply agreements with Eli Lilly and Company (Lilly) and GSK, respectively, Elevation Oncology will evaluate EO-3021 in combination with ramucirumab, a VEGFR2 inhibitor, in second-line patients and in combination with dostarlimab, a PD-1 inhibitor, in the front-line setting.
Is It Worth Investing in Elevation Oncology Inc (NASDAQ: ELEV) Right Now?
The 36-month beta value for ELEV is also noteworthy at 1.39. There are mixed opinions on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 rating it as “hold,” and 0 rating it as “sell.”
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The public float for ELEV is 44.86M, and at present, short sellers hold a 11.57% of that float. The average trading volume of ELEV on July 24, 2024 was 827.83K shares.
ELEV’s Market Performance
ELEV stock saw an increase of -9.85% in the past week, with a monthly gain of 5.47% and a quarterly increase of -33.33%. The volatility ratio for the week is 6.69%, and the volatility levels for the last 30 days are 9.07% for Elevation Oncology Inc (ELEV). The simple moving average for the last 20 days is -0.36% for ELEV’s stock, with a simple moving average of 6.17% for the last 200 days.
Analysts’ Opinion of ELEV
Many brokerage firms have already submitted their reports for ELEV stocks, with Piper Sandler repeating the rating for ELEV by listing it as a “Overweight.” The predicted price for ELEV in the upcoming period, according to Piper Sandler is $10 based on the research report published on May 31, 2024 of the current year 2024.
Stephens, on the other hand, stated in their research note that they expect to see ELEV reach a price target of $8. The rating they have provided for ELEV stocks is “Overweight” according to the report published on May 14th, 2024.
JMP Securities gave a rating of “Mkt Outperform” to ELEV, setting the target price at $7 in the report published on March 01st of the current year.
ELEV Trading at -15.67% 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 -53.69% of loss for the given period.
Volatility was left at 9.07%, however, over the last 30 days, the volatility rate increased by 6.69%, as shares surge +10.20% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -23.08% lower at present.
During the last 5 trading sessions, ELEV fell by -9.85%, which changed the moving average for the period of 200-days by +337.60% in comparison to the 20-day moving average, which settled at $2.72. In addition, Elevation Oncology Inc saw 402.79% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for ELEV
Current profitability levels for the company are sitting at:
- -664.98 for the present operating margin
- 0.33 for the gross margin
The net margin for Elevation Oncology Inc stands at -678.48. The total capital return value is set at -0.36. Equity return is now at value -71.82, with -42.35 for asset returns.
Based on Elevation Oncology Inc (ELEV), the company’s capital structure generated 0.29 points at debt to capital in total, while cash flow to debt ratio is standing at -1.59. The debt to equity ratio resting at 0.41. The interest coverage ratio of the stock is -9.01.
Currently, EBITDA for the company is -40.3 million with net debt to EBITDA at 1.55. When we switch over and look at the enterprise to sales, we see a ratio of 1512.11. The liquidity ratio also appears to be rather interesting for investors as it stands at 46.22.
Conclusion
In summary, Elevation Oncology Inc (ELEV) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
