Elicio Therapeutics, Inc. (NASDAQ:ELTX) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Elicio Therapeutics, Inc. (NASDAQ:ELTX) have been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $15.00.

Several equities research analysts recently commented on the stock. B. Riley Financial decreased their price objective on shares of Elicio Therapeutics to $8.00 and set a “buy” rating on the stock in a research report on Thursday. LADENBURG THALM/SH SH began coverage on shares of Elicio Therapeutics in a research report on Thursday, June 18th. They set a “buy” rating and a $12.00 target price for the company. Rodman & Renshaw reaffirmed a “buy” rating on shares of Elicio Therapeutics in a report on Monday, June 15th. HC Wainwright reaffirmed a “buy” rating on shares of Elicio Therapeutics in a report on Tuesday, August 18th. Finally, JonesTrading lowered shares of Elicio Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 16th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. HB Wealth Management LLC acquired a new position in Elicio Therapeutics in the first quarter valued at $112,000. Deutsche Bank AG acquired a new stake in Elicio Therapeutics in the 2nd quarter worth about $49,000. Bank of America Corp DE grew its holdings in 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 buying an additional 14,176 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Elicio Therapeutics during the 2nd quarter valued at about $62,000. Finally, Renaissance Technologies LLC increased its stake in shares of Elicio Therapeutics by 332.7% during the 1st quarter. Renaissance Technologies LLC now owns 121,631 shares of the company’s stock valued at $1,300,000 after acquiring an additional 93,520 shares during the last quarter. Institutional investors and hedge funds own 35.03% of the company’s stock.

Elicio Therapeutics Price Performance

ELTX stock opened at $1.88 on Friday. The firm has a 50 day moving average of $2.70 and a 200-day moving average of $7.01. The company has a market cap of $49.41 million, a price-to-earnings ratio of -0.87 and a beta of 1.29. 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 has a 12-month low of $1.71 and a 12-month high of $16.00.

Elicio Therapeutics (NASDAQ:ELTX) last released its quarterly earnings data 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 analysts expect that Elicio Therapeutics will post -2.1 EPS for the current fiscal year.

Elicio Therapeutics Company Profile

Elicio Therapeutics is a clinical-stage biotechnology company developing cancer immunotherapies designed to activate and strengthen the immune system’s response to tumors. The company’s approach is based on its Amphiphile technology, which is intended to direct therapeutic agents to lymph nodes, where immune responses are initiated and expanded.

Elicio’s leading program, ELI-002, is an investigational therapeutic cancer vaccine targeting common KRAS mutations. The program is being studied in patients with certain solid tumors, including pancreatic and colorectal cancers, with the goal of treating minimal residual disease and reducing the risk of recurrence.