Braidwell LP Sells 2,004,111 Shares of Elevation Oncology, Inc. (NASDAQ:ELEV)

by · The Cerbat Gem

Braidwell LP cut its holdings in Elevation Oncology, Inc. (NASDAQ:ELEV – Free Report) by 80.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 473,503 shares of the company’s stock after selling 2,004,111 shares during the period. Braidwell LP owned approximately 0.80% of Elevation Oncology worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ELEV. GSA Capital Partners LLP acquired a new stake in Elevation Oncology during the third quarter worth approximately $260,000. SG Americas Securities LLC bought a new position in shares of Elevation Oncology during the 3rd quarter worth approximately $28,000. Frazier Life Sciences Management L.P. acquired a new stake in shares of Elevation Oncology during the 2nd quarter worth approximately $7,988,000. Affinity Asset Advisors LLC increased its stake in shares of Elevation Oncology by 15.8% in the 2nd quarter. Affinity Asset Advisors LLC now owns 1,468,825 shares of the company’s stock valued at $3,966,000 after acquiring an additional 200,000 shares in the last quarter. Finally, Logos Global Management LP lifted its position in shares of Elevation Oncology by 285.0% during the 2nd quarter. Logos Global Management LP now owns 3,850,000 shares of the company’s stock valued at $10,395,000 after acquiring an additional 2,850,000 shares during the period. 83.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Elevation Oncology in a report on Wednesday, August 7th. Wedbush restated an “outperform” rating and issued a $8.00 target price on shares of Elevation Oncology in a research note on Tuesday, August 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Elevation Oncology currently has a consensus rating of “Buy” and a consensus price target of $7.80.

Read Our Latest Research Report on Elevation Oncology

Elevation Oncology Stock Performance

Shares of ELEV stock opened at $0.62 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 17.77 and a current ratio of 17.77. The firm has a fifty day simple moving average of $0.58 and a two-hundred day simple moving average of $1.68. Elevation Oncology, Inc. has a 12 month low of $0.44 and a 12 month high of $5.83.

Elevation Oncology (NASDAQ:ELEV – Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.02). Analysts expect that Elevation Oncology, Inc. will post -0.84 earnings per share for the current fiscal year.

Elevation Oncology Company Profile

(Free Report)

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.

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