Deutsche Bank AG Buys 159,751 Shares of Elevation Oncology, Inc. (NASDAQ:ELEV)

Deutsche Bank AG lifted its holdings in Elevation Oncology, Inc. (NASDAQ:ELEV) by 550.5% in the fourth quarter, Holdings Channel reports. The fund owned 188,771 shares of the company’s stock after purchasing an additional 159,751 shares during the quarter. Deutsche Bank AG’s holdings in Elevation Oncology were worth $106,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Elevation Oncology by 21.5% during the fourth quarter. Barclays PLC now owns 87,608 shares of the company’s stock worth $49,000 after acquiring an additional 15,531 shares during the period. SG Americas Securities LLC raised its holdings in shares of Elevation Oncology by 33.9% during the fourth quarter. SG Americas Securities LLC now owns 61,467 shares of the company’s stock worth $35,000 after purchasing an additional 15,560 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Elevation Oncology by 42.5% during the fourth quarter. Bank of America Corp DE now owns 56,839 shares of the company’s stock worth $32,000 after purchasing an additional 16,962 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Elevation Oncology by 175.9% in the third quarter. JPMorgan Chase & Co. now owns 61,334 shares of the company’s stock valued at $37,000 after buying an additional 39,101 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Elevation Oncology by 138.9% in the fourth quarter. Jane Street Group LLC now owns 70,883 shares of the company’s stock valued at $40,000 after buying an additional 41,215 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.

Elevation Oncology Trading Down 2.1%

NASDAQ ELEV opened at $0.30 on Wednesday. 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 market cap of $18.06 million, a PE ratio of -0.37 and a beta of 1.59. Elevation Oncology, Inc. has a one year low of $0.22 and a one year high of $3.84. The firm’s fifty day moving average is $0.32 and its two-hundred day moving average is $0.50.

Elevation Oncology (NASDAQ:ELEV) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.04). Analysts expect that Elevation Oncology, Inc. will post -0.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Leerink Partnrs cut shares of Elevation Oncology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 20th. HC Wainwright dropped their target price on shares of Elevation Oncology from $6.00 to $1.00 and set a “buy” rating for the company in a report on Friday, March 21st. Piper Sandler downgraded shares of Elevation Oncology from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $10.00 to $0.70 in a research note on Friday, March 21st. Leerink Partners downgraded shares of Elevation Oncology from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $9.00 to $1.00 in a research note on Friday, March 21st. Finally, Stephens reaffirmed an “equal weight” rating and set a $1.00 price objective (down from $5.00) on shares of Elevation Oncology in a research report on Monday, March 24th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.39.

Elevation Oncology Company 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.