Elicio Therapeutics, Inc. (NASDAQ:ELTX) Stock Has Average Price Target of $15.00

Elicio Therapeutics, Inc. (NASDAQ:ELTX) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, Marketbeat.com reports. One 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 twelve-month target price among analysts that have covered the stock in the last year is $15.00.

A number of brokerages have weighed in on ELTX. Wall Street Zen upgraded Elicio Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Rodman & Renshaw restated a “buy” rating on shares of Elicio Therapeutics in a research report on Monday, June 15th. Weiss Ratings cut shares of Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th. LADENBURG THALM/SH SH initiated coverage on shares of Elicio Therapeutics in a research report on Thursday, June 18th. They issued a “buy” rating and a $12.00 price target for the company. Finally, B. Riley Financial decreased their price target on shares of Elicio Therapeutics to $8.00 and set a “buy” rating for the company in a research note on Thursday, September 24th.

Elicio Therapeutics Stock Performance

NASDAQ ELTX traded down $0.06 during trading hours on Tuesday, hitting $1.82. The company had a trading volume of 46,178 shares, compared to its average volume of 670,870. The business has a 50 day moving average of $2.43 and a 200-day moving average of $6.18. The company has a market cap of $47.80 million, a PE ratio of -0.84 and a beta of 1.32. Elicio Therapeutics has a 1-year low of $1.71 and a 1-year high of $16.00. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.77 and a current ratio of 2.77.

Elicio Therapeutics (NASDAQ:ELTX) last posted its earnings results on Thursday, August 13th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.11. As a group, equities research analysts expect that Elicio Therapeutics will post -1.90 EPS for the current year.

Institutional Investors Weigh In On Elicio Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Shah Capital Management acquired a new position in Elicio Therapeutics in the 3rd quarter valued at about $2,275,000. BlackRock Inc. acquired a new stake in Elicio Therapeutics during the 2nd quarter worth approximately $2,995,000. Renaissance Technologies LLC lifted its position in Elicio Therapeutics by 332.7% during the 1st 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 during the period. Bank of New York Mellon Corp acquired a new stake in Elicio Therapeutics during the 2nd quarter worth approximately $62,000. Finally, Bank of America Corp DE grew its stake in shares of Elicio Therapeutics by 1,225.2% in the 1st 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. 35.03% of the stock is owned by hedge funds and other institutional investors.

Elicio Therapeutics Company Profile

Elicio Therapeutics, Inc is a clinical-stage biotechnology company developing immunotherapies designed to treat cancer by directing immune responses to the lymph nodes, where key immune cells are activated. The company’s technology is based on its Amphiphile platform, which is intended to improve the delivery and activity of therapeutic vaccines and other immune-modulating agents.

Elicio’s lead program is ELI-002, an investigational therapeutic cancer vaccine designed to target common KRAS mutations.