Elicio Therapeutics' (ELTX) "Buy" Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright reaffirmed its “Buy” rating on Elicio Therapeutics, while Wall Street analysts’ consensus remains “Moderate Buy” with an average price target of $19.75.
• ELTX shares opened at $3.02, down 2.3%, with the stock trading well below its 50-day and 200-day moving averages and near its 52-week low of $2.66.
• Elicio reported a quarterly loss of $0.43 per share, better than analysts’ expected loss of $0.54; institutional investors own approximately 35.03% of the company.

Elicio Therapeutics (NASDAQ:ELTX - Get Free Report)'s stock had its "buy" rating reiterated by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports.

Several other equities analysts have also weighed in on the stock. Wall Street Zen upgraded shares of Elicio Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday. Rodman & Renshaw reiterated a "buy" rating on shares of Elicio Therapeutics in a research note on Monday, June 15th. B. Riley Financial began coverage on shares of Elicio Therapeutics in a research report on Wednesday, June 10th. They set a "buy" rating and a $27.00 target price for the company. LADENBURG THALM/SH SH assumed coverage on shares of Elicio Therapeutics in a research note on Thursday, June 18th. They set a "buy" rating and a $12.00 price target for the company. Finally, JonesTrading cut shares of Elicio Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, June 16th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $19.75.

Elicio Therapeutics Stock Down 2.3%

ELTX stock opened at $3.02 on Tuesday. The stock's fifty day simple moving average is $4.24 and its two-hundred day simple moving average is $8.40. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 1.20. Elicio Therapeutics has a 1-year low of $2.66 and a 1-year high of $16.00. The stock has a market cap of $57.65 million, a P/E ratio of -1.39 and a beta of 1.30.

Elicio Therapeutics (NASDAQ:ELTX - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.54) by $0.11. Analysts expect that Elicio Therapeutics will post -2.08 EPS for the current year.

Institutional Investors Weigh In On Elicio Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in Elicio Therapeutics by 186.8% in the 3rd quarter. Bank of America Corp DE now owns 3,585 shares of the company's stock valued at $39,000 after acquiring an additional 2,335 shares during the period. Raymond James Financial Inc. bought a new position in Elicio Therapeutics during the second quarter worth about $46,000. Summit Financial LLC purchased a new position in shares of Elicio Therapeutics in the fourth quarter worth about $80,000. HB Wealth Management LLC purchased a new position in shares of Elicio Therapeutics in the first quarter worth about $112,000. Finally, HighTower Advisors LLC bought a new stake in shares of Elicio Therapeutics in the fourth quarter valued at approximately $89,000. 35.03% of the stock is currently owned by institutional investors.

About Elicio Therapeutics

Angion Biomedica Corp. is a late-stage biopharmaceutical company. It is focused on the discovery, development and commercialization of novel small molecule therapeutics to address acute organ injuries and fibrotic diseases. Angion Biomedica Corp. is based in UNIONDALE, N.Y.

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