Elevation Oncology, Inc. (NASDAQ:ELEV – Get Free Report) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 6,680,000 shares, an increase of 28.7% from the June 30th total of 5,190,000 shares. Based on an average trading volume of 829,400 shares, the days-to-cover ratio is currently 8.1 days. Approximately 14.9% of the shares of the company are sold short.
Elevation Oncology Stock Performance
NASDAQ ELEV opened at $2.87 on Tuesday. Elevation Oncology has a 1 year low of $0.36 and a 1 year high of $5.83. The firm has a market capitalization of $156.82 million, a price-to-earnings ratio of -2.76 and a beta of 1.39. The company has a current ratio of 46.22, a quick ratio of 46.22 and a debt-to-equity ratio of 0.41. The firm’s 50 day simple moving average is $3.09 and its 200 day simple moving average is $3.52.
Elevation Oncology (NASDAQ:ELEV – Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). As a group, research analysts expect that Elevation Oncology will post -0.92 earnings per share for the current fiscal year.
Analyst Ratings Changes
Read Our Latest Analysis on ELEV
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of ELEV. Bank of New York Mellon Corp bought a new stake in shares of Elevation Oncology during the 2nd quarter valued at approximately $415,000. Vanguard Group Inc. boosted its position in Elevation Oncology by 30.8% in the first quarter. Vanguard Group Inc. now owns 1,532,045 shares of the company’s stock valued at $7,859,000 after buying an additional 360,799 shares in the last quarter. Farallon Capital Management LLC bought a new stake in shares of Elevation Oncology during the first quarter worth $19,939,000. SG Americas Securities LLC acquired a new position in shares of Elevation Oncology during the first quarter worth $63,000. Finally, Artal Group S.A. bought a new position in shares of Elevation Oncology in the 1st quarter valued at $7,762,000. Institutional investors and hedge funds own 83.70% of the company’s stock.
About Elevation Oncology
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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