Elevation Oncology Inc. (NASDAQ: ELEV) Now $0.72 Higher From Its Low (2.29), Does It Still Have A Growth Story?

Elevation Oncology Inc. (NASDAQ:ELEV) currently has a daily average trading volume of 856.64K but it saw 1086057 shares traded on Thursday. With a market cap of 95.12M USD, stock’s current market price of $3.01 came rising about 15.77 while comparing to the previous closing price of $2.60. In past 52 weeks, the stock remained buoying in the range of price level as high as $5.10 and as low as $0.72. In the recent trading on the day, stock has struck highest price mark of $3.17 while lowest mark touched by it was $2.40.

Taking a look at 20-day trading activity of Elevation Oncology Inc. (ELEV) gives us an average price of $3.58, while its current price level is -40.98% below from 52-week high level whereas it is 316.38% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $2.66 while that of 200 days or SMA-200 reads an average of $1.48. A closer look into the stock’s movement over the week reveals that its volatility is standing at 27.02% during that period while stretching the period over a month that decreases to 17.04%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 47.74 which implies that the stock is in neutral territory.

Elevation Oncology Inc. (ELEV)’s stock is currently under the radar of 3 analysts who are in consensus at a 12-month price target range of between $4.00 and $5.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $4.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $5.00. Average price target assigned by them is $4.50 which highlights an upside potential of 33.11% for the stock over that period. And to attain the median price target of $4.50 assigned by those analysts, stock has to add about 33.11% of value to its current levels.

Data by FactSet Research shows that 3 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 2 analysts suggested the investors to Buy the stock while 1 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Overweight for the stock and that issued by Wall Street to investors is Moderate Buy.

Over the week, ELEV’s stock price is moving -40.51% down while it is -0.66% when we observe its performance for the past one month. Year-to-date it is 216.84% up and over the past year, the stock is showing a downside performance of -14.49%.

The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of -$0.72 beaten by the consensus estimate of -$0.59 for the same. The company is expected to be releasing its next quarterly report in 08/10/2023, for which analysts forecasted an EPS of -$0.27 while estimate for next year EPS is -$1.52. For ELEV, analysts are forecasting an EPS-growth rate of 62.80% for current year and estimate for EPS growth in next year is 15.80%.

Currently, Elevation Oncology Inc.’s total number of outstanding shares is 24.34M with 2.15% of that held by the insiders while 74.24% of its common stock has been owned by the institutions. Stock has a price to book (P/B) ratio of 2.12.

A filing at the U.S. Securities and Exchange Commission revealed that Stichting Pensioenfonds ABP came shrinking its share ownership by 26.97% in the Elevation Oncology Inc. (ELEV) increasing its stake to 1.60% with control over 80259.0 shares in the company.