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

Key Points

• Elicio Therapeutics has a “Moderate Buy” consensus rating from six analysts: four buys, one hold, and one sell. The average 12-month price target is $19.75, with individual targets as high as $27.
• ELTX shares traded at $2.88, near their 52-week low of $2.66 and well below the 52-week high of $16.00. The stock is down sharply relative to its 50-day and 200-day moving averages.
• Institutional ownership stands at 35.03%, with several hedge funds recently increasing or initiating positions. Elicio reported a quarterly loss of $0.65 per share, missing the consensus estimate of a $0.49 loss.

Elicio Therapeutics, Inc. (NASDAQ:ELTX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the six analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $19.75.

ELTX has been the subject of a number of research analyst reports. Rodman & Renshaw restated a "buy" rating on shares of Elicio Therapeutics in a report on Monday, June 15th. HC Wainwright increased their price objective on Elicio Therapeutics from $17.00 to $23.00 and gave the stock a "buy" rating in a research note on Monday, June 15th. Weiss Ratings raised Elicio Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, July 14th. JonesTrading downgraded Elicio Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, June 16th. Finally, B. Riley Financial initiated coverage on shares of Elicio Therapeutics in a report on Wednesday, June 10th. They set a "buy" rating and a $27.00 price target for the company.

Hedge Funds Weigh In On Elicio Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in Elicio Therapeutics by 1,225.2% during the first quarter. Bank of America Corp DE now owns 15,333 shares of the company's stock valued at $164,000 after purchasing an additional 14,176 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Elicio Therapeutics by 332.7% during the 1st quarter. Renaissance Technologies LLC now owns 121,631 shares of the company's stock valued at $1,300,000 after buying an additional 93,520 shares during the last quarter. HB Wealth Management LLC bought a new stake in shares of Elicio Therapeutics in the 1st quarter valued at approximately $112,000. Quadrature Capital Ltd acquired a new position in Elicio Therapeutics in the fourth quarter worth approximately $137,000. Finally, Occudo Quantitative Strategies LP bought a new position in Elicio Therapeutics during the fourth quarter valued at approximately $126,000. 35.03% of the stock is owned by institutional investors and hedge funds.

Elicio Therapeutics Trading Down 0.2%

ELTX stock traded down $0.01 during mid-day trading on Thursday, reaching $2.88. 54,013 shares of the stock traded hands, compared to its average volume of 800,847. Elicio Therapeutics has a 52-week low of $2.66 and a 52-week high of $16.00. The stock's fifty day moving average is $6.44 and its 200-day moving average is $8.85. The company has a market cap of $55.07 million, a P/E ratio of -1.21 and a beta of 1.26. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 5.75.

Elicio Therapeutics (NASDAQ:ELTX - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.16). As a group, sell-side analysts expect that Elicio Therapeutics will post -2.08 earnings per share for the current year.

Elicio Therapeutics Company Profile

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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