Fintel reports that on May 30, 2023, SVB Securities upgraded their outlook for Elevation Oncology (NASDAQ:ELEV) from Market Perform to Outperform .
Analyst Price Forecast Suggests 2.30% Downside
As of May 11, 2023, the average one-year price target for Elevation Oncology is 4.25. The forecasts range from a low of 1.01 to a high of $7.88. The average price target represents a decrease of 2.30% from its latest reported closing price of 4.35.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Elevation Oncology is 0MM. The projected annual non-GAAP EPS is -2.16.
What is the Fund Sentiment?
There are 43 funds or institutions reporting positions in Elevation Oncology. This is a decrease of 1 owner(s) or 2.27% in the last quarter. Average portfolio weight of all funds dedicated to ELEV is 0.30%, an increase of 87.47%. Total shares owned by institutions increased in the last three months by 11.67% to 16,352K shares.
What are Other Shareholders Doing?
Aisling Capital Management holds 2,835K shares representing 11.65% ownership of the company. No change in the last quarter.
Qiming U.S. Ventures Management holds 2,370K shares representing 9.74% ownership of the company. No change in the last quarter.
Bvf holds 2,312K shares representing 9.50% ownership of the company. No change in the last quarter.
Cormorant Asset Management holds 1,952K shares representing 8.02% ownership of the company. No change in the last quarter.
venBio Partners holds 1,866K shares representing 7.67% ownership of the company. No change in the last quarter.
Elevation Oncology Background Information
(This description is provided by the company.)
Elevation Oncology is founded on the belief that every patient with cancer deserves to know what is driving the growth of their disease and have access to therapeutics that can stop it. The company makes genomic tests actionable by selectively developing drugs to inhibit the specific alterations that have been identified as drivers of disease. Together with its peers Elevation Oncology works towards a future in which each unique test result can be matched with a purpose-built precision medicine to enable an individualized treatment plan for each patient. Its lead candidate, seribantumab, inhibits tumor growth driven by NRG1 fusions and is currently being clinically tested in the Phase 2 CRESTONE study for patients with tumors of any origin that have an NRG1 fusion. Details on CRESTONE are available at www.NRG1fusion.com.
Key filings for this company:
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
