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

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

ELTX has been the subject of several recent research reports. Wall Street Zen raised shares of Elicio Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings lowered Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th. HC Wainwright reiterated a “buy” rating on shares of Elicio Therapeutics in a research note on Tuesday, August 18th. Finally, B. Riley Financial decreased their target price on Elicio Therapeutics to $8.00 and set a “buy” rating for the company in a report on Thursday, September 24th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ELTX. HB Wealth Management LLC purchased a new position in Elicio Therapeutics in the first quarter valued at approximately $112,000. Deutsche Bank AG acquired a new position in shares of Elicio Therapeutics in the 2nd quarter valued at $49,000. Bank of America Corp DE grew its position 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 buying an additional 14,176 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Elicio Therapeutics in the 2nd quarter valued at $62,000. Finally, Renaissance Technologies LLC grew its position in shares of 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 buying an additional 93,520 shares during the last quarter. Hedge funds and other institutional investors own 35.03% of the company’s stock.

Elicio Therapeutics Stock Down 0.6%

Shares of NASDAQ ELTX opened at $1.55 on Tuesday. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 1.20. Elicio Therapeutics has a twelve month low of $1.44 and a twelve month high of $16.00. The stock has a fifty day simple moving average of $2.29 and a 200-day simple moving average of $5.86.

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

About Elicio Therapeutics

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.