While Elevation Oncology Inc has overperformed by 0.61%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ELEV rose by 30.35%, with highs and lows ranging from $5.83 to $0.44, whereas the simple moving average fell by -71.55% in the last 200 days.
On May 31, 2024, Piper Sandler started tracking Elevation Oncology Inc (NASDAQ: ELEV) recommending Overweight. A report published by Stephens on May 14, 2024, Initiated its previous ‘Overweight’ rating for ELEV. JMP Securities also rated ELEV shares as ‘Mkt Outperform’, setting a target price of $7 on the company’s shares in an initiating report dated March 01, 2024. SVB Securities May 30, 2023d the rating to Outperform on May 30, 2023, and set its price target from $5 to $8. H.C. Wainwright initiated its ‘Buy’ rating for ELEV, as published in its report on December 23, 2021.
Analysis of Elevation Oncology Inc (ELEV)
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Elevation Oncology Inc’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -63.67% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 17.77, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and ELEV is recording an average volume of 754.24K. On a monthly basis, the volatility of the stock is set at 9.99%, whereas on a weekly basis, it is put at 14.72%, with a loss of -1.10% over the past seven days. Furthermore, long-term investors anticipate a median target price of $7.00, showing growth from the present price of $0.64, which can serve as yet another indication of whether ELEV is worth investing in or should be passed over.
How Do You Analyze Elevation Oncology Inc Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 11.99%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 66.17% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
ELEV shares are owned by institutional investors to the tune of 66.17% at present.
