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Elevation Oncology Inc (ELEV) – Don’t Be So Quick to Call it Dead

Elevation Oncology Inc (NASDAQ: ELEV) is 862.76% higher on its value in year-to-date trading and has touched a low of $0.36 and a high of $5.89 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ELEV stock was last observed hovering at around $5.13 in the last trading session, with the day’s gains setting it 0.04%.

Currently trading at $5.17, the stock is 13.19% and 40.74% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.05 million and changing 0.78% at the moment leaves the stock 222.11% off its SMA200. ELEV registered 172.11% gain for a year compared to 6-month gain of 665.93%. The firm has a 200-day simple moving average (SMA200) of -$4.71.

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The stock witnessed a 7.48% loss in the last 1 month and extending the period to 3 months gives it a 721.94%, and is 3.40% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 9.96% over the week and 10.84% over the month.

Elevation Oncology Inc (ELEV) has around 29 employees, a market worth around $251.52M and $0.00M in sales. Distance from 52-week low is 1324.24% and -12.22% from its 52-week high. The company has generated returns on investments over the last 12 months (-53.80%).

Elevation Oncology Inc quarterly earnings per share for the current quarter are estimated at -$0.2.The EPS is expected to grow by 36.27% this year

38 institutions hold shares in Elevation Oncology Inc (ELEV), with institutional investors hold 81.81% of the company’s shares. The shares outstanding are 42.42M, and float is at 39.81M with Short Float at 11.62%. Institutions hold 80.20% of the Float.

The top institutional shareholder in the company is Tang Capital Management, LLC with over 4.0 million shares valued at $6.08 million. The investor’s holdings represent 9.44% of the ELEV Shares outstanding. As of Jun 29, 2023, the second largest holder is venBio Partners LLC with 2.91 million shares valued at $4.43 million to account for 6.88% of the shares outstanding. The other top investors are Aisling Capital Management LP which holds 2.83 million shares representing 6.69% and valued at over $4.31 million, while Armistice Capital, LLC holds 5.65% of the shares totaling 2.4 million with a market value of $3.64 million.

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