While Elevation Oncology Inc has underperformed by -1.67%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ELEV rose by 22.74%, with highs and lows ranging from $5.83 to $0.44, whereas the simple moving average fell by -73.53% 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)
One of the most important indicators of Elevation Oncology Inc’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. 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.
For any stock, average volume can also provide valuable insight into volatility, and ELEV is recording 783.24K average volume. On a monthly basis, the volatility of the stock is set at 11.24%, whereas on a weekly basis, it is put at 12.28%, with a loss of -13.87% over the past seven days. Furthermore, long-term investors anticipate a median target price of $7.00, showing growth from the present price of $0.56, 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?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. 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 12.00%. 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.
