BlackRock Inc. Makes New Investment in Elicio Therapeutics, Inc. $ELTX

Key Points

• BlackRock initiated a position in Elicio Therapeutics during the second quarter, purchasing 766,005 shares valued at approximately $3.0 million, or about 4.01% of the company.
• Institutional ownership stands at 35.03%, with several other investment firms recently acquiring new stakes in the biotechnology company.
• ELTX shares opened at $2.41, near their one-year low of $2.36, while analysts maintain a “Moderate Buy” consensus and a $19.75 average price target despite mixed ratings.

BlackRock Inc. bought a new position in Elicio Therapeutics, Inc. (NASDAQ:ELTX - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 766,005 shares of the company's stock, valued at approximately $2,995,000. BlackRock Inc. owned about 4.01% of Elicio Therapeutics at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Quadrature Capital Ltd bought a new position in Elicio Therapeutics in the 4th quarter worth about $137,000. Squarepoint Ops LLC purchased a new position in Elicio Therapeutics in the fourth quarter worth about $133,000. Occudo Quantitative Strategies LP bought a new position in shares of Elicio Therapeutics in the fourth quarter worth approximately $126,000. Jane Street Group LLC purchased a new stake in shares of Elicio Therapeutics during the first quarter valued at approximately $92,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Elicio Therapeutics during the fourth quarter valued at approximately $89,000. Hedge funds and other institutional investors own 35.03% of the company's stock.

Elicio Therapeutics Stock Down 3.6%

ELTX opened at $2.41 on Friday. The firm's 50 day simple moving average is $3.11 and its two-hundred day simple moving average is $7.87. The company has a market capitalization of $63.34 million, a PE ratio of -1.11 and a beta of 1.29. Elicio Therapeutics, Inc. has a 1-year low of $2.36 and a 1-year high of $16.00. 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 (NASDAQ:ELTX - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.11. As a group, equities analysts forecast that Elicio Therapeutics, Inc. will post -2.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ELTX shares. Rodman & Renshaw restated a "buy" rating on shares of Elicio Therapeutics in a research note on Monday, June 15th. JonesTrading downgraded Elicio Therapeutics from a "buy" rating to a "hold" rating in a report on Tuesday, June 16th. Weiss Ratings cut shares of Elicio Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of Elicio Therapeutics from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Elicio Therapeutics in a report on Thursday, June 18th. They set a "buy" rating and a $12.00 price objective for the company. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Elicio Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus target price of $19.75.

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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