Elicio Therapeutics (NASDAQ:ELTX) Stock Price Down 1.7% - Here's What Happened

Key Points

• Elicio Therapeutics shares fell 1.7% to $2.95 in mid-day trading, with volume down 65% from the average session.
• Analyst views remain mixed but lean positive: four analysts rate the stock Buy, one Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $19.75.
• The company reported a quarterly loss of $0.65 per share, missing estimates by $0.16, while institutional investors own approximately 35.03% of the stock.

Shares of Elicio Therapeutics, Inc. (NASDAQ:ELTX - Get Free Report) were down 1.7% during mid-day trading on Tuesday . The stock traded as low as $2.87 and last traded at $2.95. 361,412 shares were traded during mid-day trading, a decline of 65% from the average session volume of 1,033,446 shares. The stock had previously closed at $3.00.

Analyst Ratings Changes

A number of brokerages have commented on ELTX. Wall Street Zen cut shares of Elicio Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. B. Riley Financial assumed coverage on Elicio Therapeutics in a research report on Wednesday, June 10th. They issued a "buy" rating and a $27.00 price objective for the company. HC Wainwright boosted their price objective on Elicio Therapeutics from $17.00 to $23.00 and gave the company a "buy" rating in a research note on Monday, June 15th. LADENBURG THALM/SH SH assumed coverage on Elicio Therapeutics in a research report on Thursday, June 18th. They set a "buy" rating and a $12.00 target price on the stock. Finally, JonesTrading cut Elicio Therapeutics from a "buy" rating to a "hold" rating in a research note on Tuesday, June 16th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Elicio Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $19.75.

Elicio Therapeutics Stock Down 1.7%

The company has a debt-to-equity ratio of 5.75, a quick ratio of 2.24 and a current ratio of 2.24. The firm's 50 day moving average price is $6.58 and its two-hundred day moving average price is $8.89. The company has a market cap of $56.32 million, a P/E ratio of -1.23 and a beta of 1.26.

Elicio Therapeutics (NASDAQ:ELTX - Get Free Report) last issued its earnings results on Monday, May 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.16). Equities research analysts anticipate that Elicio Therapeutics, Inc. will post -2.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Elicio Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP increased its position in Elicio Therapeutics by 606.1% in the 3rd quarter. Susquehanna International Group LLP now owns 120,207 shares of the company's stock valued at $1,315,000 after buying an additional 103,184 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Elicio Therapeutics by 332.7% in the first quarter. Renaissance Technologies LLC now owns 121,631 shares of the company's stock worth $1,300,000 after acquiring an additional 93,520 shares in the last quarter. 683 Capital Management LLC bought a new position in Elicio Therapeutics in the fourth quarter worth approximately $449,000. Geode Capital Management LLC grew its stake in Elicio Therapeutics by 56.0% in the second quarter. Geode Capital Management LLC now owns 120,831 shares of the company's stock valued at $933,000 after acquiring an additional 43,364 shares during the period. Finally, Royal Bank of Canada acquired a new stake in Elicio Therapeutics in the first quarter valued at approximately $225,000. Institutional investors own 35.03% of the company's stock.

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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