Elicio Therapeutics (NASDAQ:ELTX) Trading 1.6% Higher - Here's What Happened

Key Points

• Elicio Therapeutics shares traded higher by 1.6% mid-day (intraday high $10.89, last $10.29) on volume about 12% below its average session volume.
• Analyst views are mixed but tilted positive: the consensus is a “Moderate Buy” with a consensus target price of $17.00, including upgrades from HC Wainwright and a strong-buy from Rodman & Renshaw.
• The company reported Q EPS of −$0.49, missing estimates, has a market cap of ~$189M and healthy liquidity (current and quick ratios 2.38) but a high debt-to-equity ratio of 5.75; sell-side expects roughly −3.89 EPS for the year.

Elicio Therapeutics, Inc. (NASDAQ:ELTX - Get Free Report) shares traded up 1.6% during mid-day trading on Thursday . The company traded as high as $10.89 and last traded at $10.29. 95,629 shares were traded during trading, a decline of 12% from the average session volume of 108,481 shares. The stock had previously closed at $10.13.

Analyst Ratings Changes

A number of research firms recently weighed in on ELTX. HC Wainwright upped their price objective on shares of Elicio Therapeutics from $13.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, March 13th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Elicio Therapeutics in a research note on Monday, December 29th. Wall Street Zen raised shares of Elicio Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, February 7th. Finally, Rodman & Renshaw raised shares of Elicio Therapeutics to a "strong-buy" rating in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Elicio Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $17.00.

Elicio Therapeutics Trading Up 1.6%

The firm has a market capitalization of $189.34 million, a PE ratio of -3.93 and a beta of 1.11. The company's 50-day simple moving average is $10.31 and its 200 day simple moving average is $9.47. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 5.75.

Elicio Therapeutics (NASDAQ:ELTX - Get Free Report) last released its quarterly earnings results on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.02). As a group, sell-side analysts expect that Elicio Therapeutics, Inc. will post -3.89 EPS for the current year.

Institutional Trading of Elicio Therapeutics

Hedge funds have recently modified their holdings of the company. 683 Capital Management LLC purchased a new stake in shares of Elicio Therapeutics during the fourth quarter valued at about $449,000. State Street Corp lifted its position in shares of Elicio Therapeutics by 20.9% during the fourth quarter. State Street Corp now owns 46,300 shares of the company's stock valued at $369,000 after buying an additional 8,000 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Elicio Therapeutics during the third quarter valued at about $350,000. Cresset Asset Management LLC acquired a new position in shares of Elicio Therapeutics during the third quarter valued at about $295,000. Finally, Millennium Management LLC acquired a new position in shares of Elicio Therapeutics during the third quarter valued at about $250,000. 35.03% of the stock is owned by hedge funds and other institutional investors.

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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