Moreover, the 36-month beta value for ELEV is 1.22. Analysts have varying opinions on the stock, with 4 analysts rating it as a “buy,” 3 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for ELEV is 50.00M and currently, short sellers hold a 12.42% of that float. On November 15, 2024, ELEV’s average trading volume was 737.09K shares.
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ELEV) stock’s latest price update
Elevation Oncology Inc (NASDAQ: ELEV)’s stock price has dropped by -6.27 in relation to previous closing price of 0.58. Nevertheless, the company has seen a loss of -16.31% in its stock price over the last five trading days. prnewswire.com reported 2024-11-06 that — Promising initial Phase 1 data of EO-3021 reported in August highlighting 42.8% confirmed ORR observed in Claudin 18.2-enriched subset of gastric and GEJ cancer, with differentiated safety profile — — Progressed into dose expansion portion of Phase 1 trial; additional monotherapy data expected in 1H 2025 — — Expect to present preclinical data on the combination potential of EO-3021 with VEGFR2 or PD-1 inhibitors at ESMO Immuno-Oncology Annual Congress 2024 (ESMO-IO 2024) — — Expect to initiate dosing in combination portion of the Phase 1 trial of EO-3021 in 4Q 2024 — — On-track to nominate development candidate for HER3-ADC program in 4Q 2024 — BOSTON, Nov. 6, 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 financial results for the third quarter ended September 30, 2024, and highlighted recent business achievements. “We continue to make significant progress with EO-3021, our potentially best-in-class Claudin 18.2 antibody-drug conjugate (ADC).
ELEV’s Market Performance
ELEV’s stock has fallen by -16.31% in the past week, with a monthly drop of -1.34% and a quarterly drop of -27.77%. The volatility ratio for the week is 11.55% while the volatility levels for the last 30 days are 9.81% for Elevation Oncology Inc. The simple moving average for the past 20 days is -8.63% for ELEV’s stock, with a -78.27% simple moving average for the past 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 -6.15% 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 -90.67% of loss for the given period.
Volatility was left at 9.81%, however, over the last 30 days, the volatility rate increased by 11.55%, as shares sank -5.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -12.86% lower at present.
During the last 5 trading sessions, ELEV fell by -16.20%, which changed the moving average for the period of 200-days by -79.83% in comparison to the 20-day moving average, which settled at $0.5953. In addition, Elevation Oncology Inc saw 1.28% 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:
- -724.26 for the present operating margin
- 0.5 for the gross margin
The net margin for Elevation Oncology Inc stands at -723.24. The total capital return value is set at -0.42. Equity return is now at value -63.67, with -40.67 for asset returns.
Based on Elevation Oncology Inc (ELEV), the company’s capital structure generated 0.31 points at debt to capital in total, while cash flow to debt ratio is standing at -1.24. The debt to equity ratio resting at 0.45. The interest coverage ratio of the stock is -8.76.
Currently, EBITDA for the company is -41.47 million with net debt to EBITDA at 0.42. When we switch over and look at the enterprise to sales, we see a ratio of 257.66. The liquidity ratio also appears to be rather interesting for investors as it stands at 17.77.
Conclusion
To wrap up, the performance of Elevation Oncology Inc (ELEV) has been mixed in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. 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.
