Elicio Therapeutics Sees Unusually High Options Volume (NASDAQ:ELTX)

Elicio Therapeutics, Inc. (NASDAQ:ELTX) was the recipient of unusually large options trading on Monday. Stock traders purchased 8,943 call options on the company. This is an increase of approximately 1,664% compared to the typical daily volume of 507 call options.

Elicio Therapeutics News Roundup

Here are the key news stories impacting Elicio Therapeutics this week:

• Negative Sentiment: The company said the randomized Phase 2 AMPLIFY-7P study in adjuvant pancreatic ductal adenocarcinoma missed its primary endpoint, a key setback that raises concerns about the program’s ability to move successfully into later-stage development. Article: Elicio Therapeutics Reports Results from Phase 2 AMPLIFY-7P Study and Outlines Refined Phase 3 Development Strategy for ELI-002 7P in Adjuvant Pancreatic Cancer
• Negative Sentiment: Multiple reports noted the stock plunged after the study failed to significantly extend recurrence-free outcomes, fueling investor disappointment and concerns about future trial value. Article: Elicio shares tumble after pancreatic cancer therapy misses mid-stage study goal
• Negative Sentiment: Holzer & Holzer said it is investigating whether Elicio complied with federal securities laws after the trial miss, adding legal overhang that can weigh on sentiment. Article: ELTX INVESTOR ALERT: Holzer & Holzer, LLC Investigation of Elicio Therapeutics, Inc.
• Neutral Sentiment: HC Wainwright raised its price target and reiterated a buy rating, but that bullish call was overshadowed by the clinical trial failure. Article: Benzinga/The Fly coverage of target raise

Institutional Investors Weigh In On Elicio Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Elicio Therapeutics by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 473,859 shares of the company’s stock valued at $5,184,000 after purchasing an additional 19,240 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Elicio Therapeutics by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 132,518 shares of the company’s stock valued at $1,055,000 after purchasing an additional 2,832 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Elicio Therapeutics by 332.7% in the 1st quarter. Renaissance Technologies LLC now owns 121,631 shares of the company’s stock valued at $1,300,000 after purchasing an additional 93,520 shares in the last quarter. Susquehanna International Group LLP lifted its position in shares of Elicio Therapeutics by 606.1% during the 3rd quarter. Susquehanna International Group LLP now owns 120,207 shares of the company’s stock valued at $1,315,000 after acquiring an additional 103,184 shares during the period. Finally, Marshall Wace LLP boosted its stake in shares of Elicio Therapeutics by 35.4% during the 4th quarter. Marshall Wace LLP now owns 117,200 shares of the company’s stock worth $933,000 after acquiring an additional 30,667 shares in the last quarter. Hedge funds and other institutional investors own 35.03% of the company’s stock.

Elicio Therapeutics Price Performance

Shares of ELTX opened at $4.08 on Tuesday. Elicio Therapeutics has a twelve month low of $3.62 and a twelve month high of $16.00. The stock’s 50 day moving average is $11.23 and its two-hundred day moving average is $9.93. The firm has a market capitalization of $77.89 million, a PE ratio of -1.70 and a beta of 1.13. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 5.75.

Elicio Therapeutics (NASDAQ:ELTX) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.16). Research analysts anticipate that Elicio Therapeutics will post -2.09 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ELTX. HC Wainwright raised their price target on Elicio Therapeutics from $17.00 to $23.00 and gave the stock a “buy” rating in a report on Monday. Wall Street Zen lowered Elicio Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. LADENBURG THALM/SH SH began coverage on Elicio Therapeutics in a report on Wednesday, April 15th. They set a “buy” rating and a $20.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Elicio Therapeutics in a report on Friday, April 24th. Finally, B. Riley Financial began coverage on Elicio Therapeutics in a report on Wednesday, June 10th. They set a “buy” rating and a $27.00 price target on the stock. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Elicio Therapeutics has an average rating of “Moderate Buy” and an average price target of $21.75.

About Elicio Therapeutics

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.