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

Key Points

• Analysts assign Elicio Therapeutics a “Moderate Buy” consensus rating: Four of six analysts recommend buying the stock, while one rates it a hold and one a sell. The average 12-month price target is $19.75, including a $27 target from B. Riley Financial.
• ELTX shares recently traded at $3.02, near the lower end of their 12-month range of $2.66 to $16.00, with the stock down substantially below its 200-day moving average of $8.26.
• The company reported a quarterly loss of $0.43 per share, outperforming analysts’ expected loss of $0.54, while institutional investors and hedge funds own approximately 35.03% of its shares.

Elicio Therapeutics, Inc. (NASDAQ:ELTX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the six brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $19.75.

Several equities analysts have weighed in on the company. B. Riley Financial initiated coverage on Elicio Therapeutics in a research report on Wednesday, June 10th. They set a "buy" rating and a $27.00 price target for the company. Rodman & Renshaw restated a "buy" rating on shares of Elicio Therapeutics in a research report on Monday, June 15th. Wall Street Zen raised Elicio Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th. HC Wainwright reiterated a "buy" rating on shares of Elicio Therapeutics in a research report on Tuesday, August 18th. Finally, JonesTrading downgraded shares of Elicio Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, June 16th.

Elicio Therapeutics Price Performance

Shares of NASDAQ ELTX traded down $0.02 on Monday, hitting $3.02. The company's stock had a trading volume of 31,588 shares, compared to its average volume of 745,255. The stock has a 50 day moving average of $3.35 and a 200-day moving average of $8.26. The company has a market capitalization of $79.37 million, a price-to-earnings ratio of -1.39 and a beta of 1.30. Elicio Therapeutics has a 12-month low of $2.66 and a 12-month high of $16.00. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.77 and a quick ratio of 2.77.

Elicio Therapeutics (NASDAQ:ELTX - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.43) earnings per share for the quarter, topping analysts' consensus estimates of ($0.54) by $0.11. As a group, research analysts predict that Elicio Therapeutics will post -2.1 EPS for the current year.

Hedge Funds Weigh In On Elicio Therapeutics

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of Elicio Therapeutics by 186.8% during the third quarter. Bank of America Corp DE now owns 3,585 shares of the company's stock valued at $39,000 after buying an additional 2,335 shares during the period. Raymond James Financial Inc. acquired a new position in Elicio Therapeutics in the 2nd quarter valued at $46,000. Deutsche Bank AG purchased a new position in shares of Elicio Therapeutics during the 2nd quarter worth $49,000. Bank of New York Mellon Corp purchased a new position in shares of Elicio Therapeutics during the 2nd quarter worth $62,000. Finally, Summit Financial LLC acquired a new stake in shares of Elicio Therapeutics during the fourth quarter worth $80,000. Institutional investors and hedge funds own 35.03% of the company's stock.

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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