Elicio Therapeutics, Inc. (NASDAQ:ELTX) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately positive: Six brokerages give Elicio Therapeutics a consensus “Moderate Buy” rating, with four buys, one hold and one sell. The average 12-month price target is $19.75.
• Institutional ownership increased: BlackRock initiated a roughly $3.0 million position, while Renaissance Technologies and Bank of America significantly expanded their holdings; institutions collectively own 35.03% of the company.
• The stock remains under pressure despite a quarterly earnings beat: Shares recently traded at $1.95, near their 12-month low of $1.71, while the company reported a quarterly loss of $0.43 per share versus the expected $0.54 loss. Elicio is developing cancer immunotherapies, including its lead KRAS-targeted vaccine candidate ELI-002.

Elicio Therapeutics, Inc. (NASDAQ:ELTX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $19.75.

A number of equities research analysts have issued reports on the company. Rodman & Renshaw restated a "buy" rating on shares of Elicio Therapeutics in a research note on Monday, June 15th. Wall Street Zen upgraded Elicio Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th. LADENBURG THALM/SH SH initiated coverage on Elicio Therapeutics in a report on Thursday, June 18th. They issued a "buy" rating and a $12.00 target price on the stock. HC Wainwright reiterated a "buy" rating on shares of Elicio Therapeutics in a research report on Tuesday, August 18th. Finally, B. Riley Financial started coverage on Elicio Therapeutics in a research report on Wednesday, June 10th. They issued a "buy" rating and a $27.00 price target for the company.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Elicio Therapeutics in the second quarter worth about $2,995,000. Renaissance Technologies LLC increased its position in Elicio Therapeutics by 332.7% during the first quarter. Renaissance Technologies LLC now owns 121,631 shares of the company's stock valued at $1,300,000 after acquiring an additional 93,520 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Elicio Therapeutics in the 2nd quarter worth about $62,000. Bank of America Corp DE lifted its stake in Elicio Therapeutics by 1,225.2% in the first quarter. Bank of America Corp DE now owns 15,333 shares of the company's stock worth $164,000 after purchasing an additional 14,176 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in Elicio Therapeutics in the second quarter worth about $49,000. Institutional investors own 35.03% of the company's stock.

Elicio Therapeutics Stock Up 4.3%

Elicio Therapeutics stock traded up $0.08 during trading hours on Friday, hitting $1.95. The stock had a trading volume of 23,070 shares, compared to its average volume of 706,334. The stock's 50-day moving average price is $2.84 and its 200-day moving average price is $7.39. The stock has a market capitalization of $51.12 million, a P/E ratio of -0.92 and a beta of 1.29. Elicio Therapeutics has a 12-month low of $1.71 and a 12-month high of $16.00. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 1.20.

Elicio Therapeutics (NASDAQ:ELTX - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.11. Equities research analysts anticipate that Elicio Therapeutics will post -2.1 EPS for the current fiscal year.

Elicio Therapeutics Company Profile

Elicio Therapeutics is a clinical-stage biotechnology company developing cancer immunotherapies designed to activate and strengthen the immune system's response to tumors. The company's approach is based on its Amphiphile technology, which is intended to direct therapeutic agents to lymph nodes, where immune responses are initiated and expanded.

Elicio's leading program, ELI-002, is an investigational therapeutic cancer vaccine targeting common KRAS mutations. The program is being studied in patients with certain solid tumors, including pancreatic and colorectal cancers, with the goal of treating minimal residual disease and reducing the risk of recurrence.

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