Millington Financial Advisors LLC Reduces Stock Position in Elevation Oncology, Inc. (NASDAQ:ELEV)

Millington Financial Advisors LLC trimmed its stake in shares of Elevation Oncology, Inc. (NASDAQ:ELEV) by 50.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,000 shares of the company’s stock after selling 50,000 shares during the period. Millington Financial Advisors LLC owned approximately 0.08% of Elevation Oncology worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ELEV. Barclays PLC lifted its holdings in Elevation Oncology by 302.4% in the third quarter. Barclays PLC now owns 72,077 shares of the company’s stock valued at $43,000 after acquiring an additional 54,167 shares during the period. SG Americas Securities LLC increased its position in shares of Elevation Oncology by 33.9% during the 4th quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock valued at $35,000 after purchasing an additional 15,560 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Elevation Oncology by 7.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,110,085 shares of the company’s stock valued at $666,000 after purchasing an additional 78,509 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Elevation Oncology by 175.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 61,334 shares of the company’s stock worth $37,000 after purchasing an additional 39,101 shares during the period. Finally, State Street Corp boosted its holdings in shares of Elevation Oncology by 13.5% in the third quarter. State Street Corp now owns 1,018,026 shares of the company’s stock worth $611,000 after buying an additional 120,993 shares during the last quarter. Institutional investors own 83.70% of the company’s stock.

Elevation Oncology Stock Down 2.9 %

Shares of ELEV stock opened at $0.59 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 17.77 and a quick ratio of 17.77. Elevation Oncology, Inc. has a one year low of $0.50 and a one year high of $5.83. The company’s fifty day moving average price is $0.65 and its 200-day moving average price is $0.64. The company has a market capitalization of $34.88 million, a price-to-earnings ratio of -0.72 and a beta of 1.31.

Analyst Upgrades and Downgrades

ELEV has been the subject of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and set a $7.00 target price on shares of Elevation Oncology in a report on Thursday, December 19th. Stephens restated an “overweight” rating and issued a $5.00 price objective on shares of Elevation Oncology in a research note on Friday, December 6th. William Blair started coverage on Elevation Oncology in a report on Friday, January 3rd. They issued an “outperform” rating on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Elevation Oncology in a report on Tuesday, January 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $7.20.

Elevation Oncology Profile

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.