HC Wainwright Reaffirms Buy Rating for Elicio Therapeutics (NASDAQ:ELTX)

Elicio Therapeutics (NASDAQ:ELTX)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They presently have a $17.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 57.85% from the stock’s previous close.

Several other research firms have also issued reports on ELTX. LADENBURG THALM/SH SH began coverage on Elicio Therapeutics in a report on Wednesday, April 15th. They issued a “buy” rating and a $20.00 target price for the company. Wall Street Zen lowered Elicio Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Elicio Therapeutics in a report on Friday, April 24th. Finally, Rodman & Renshaw raised Elicio Therapeutics to a “strong-buy” rating in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Elicio Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Elicio Therapeutics Stock Performance

Shares of Elicio Therapeutics stock opened at $10.77 on Thursday. The company has a market cap of $205.56 million, a PE ratio of -4.49 and a beta of 1.12. Elicio Therapeutics has a 52 week low of $6.50 and a 52 week high of $14.93. The business has a 50 day moving average price of $10.91 and a 200-day moving average price of $9.60. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 5.75.

Elicio Therapeutics (NASDAQ:ELTX) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.16). Equities analysts anticipate that Elicio Therapeutics will post -1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elicio Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its position in shares of Elicio Therapeutics by 1,225.2% during the first quarter. Bank of America Corp DE now owns 15,333 shares of the company’s stock worth $164,000 after acquiring an additional 14,176 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Elicio Therapeutics by 332.7% during 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. HB Wealth Management LLC purchased a new stake in shares of Elicio Therapeutics during the first quarter worth $112,000. Quadrature Capital Ltd purchased a new stake in shares of Elicio Therapeutics during the fourth quarter worth $137,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Elicio Therapeutics during the fourth quarter worth $126,000. Hedge funds and other 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.