Elicio Therapeutics (NASDAQ:ELTX) Announces Earnings Results

Elicio Therapeutics (NASDAQ:ELTX) announced its quarterly earnings results on Thursday. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.11, FiscalAI reports.

Elicio Therapeutics Trading Up 2.9%

ELTX stock traded up $0.09 during midday trading on Thursday, reaching $3.15. 139,466 shares of the company traded hands, compared to its average volume of 767,340. The firm has a market capitalization of $60.13 million, a price-to-earnings ratio of -1.31 and a beta of 1.30. Elicio Therapeutics has a 52-week low of $2.66 and a 52-week high of $16.00. The business has a 50 day moving average of $4.87 and a 200-day moving average of $8.50. The company has a debt-to-equity ratio of 5.75, a quick ratio of 2.24 and a current ratio of 2.24.

Hedge Funds Weigh In On Elicio Therapeutics

Large investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake in shares of Elicio Therapeutics by 186.8% in the third quarter. Bank of America Corp DE now owns 3,585 shares of the company’s stock valued at $39,000 after acquiring an additional 2,335 shares during the period. Geode Capital Management LLC boosted its stake in shares of Elicio Therapeutics by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 132,518 shares of the company’s stock worth $1,055,000 after purchasing an additional 2,832 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Elicio Therapeutics during the 2nd quarter worth about $46,000. State Street Corp grew its holdings in Elicio Therapeutics by 20.9% during the 4th quarter. State Street Corp now owns 46,300 shares of the company’s stock valued at $369,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Summit Financial LLC bought a new position in Elicio Therapeutics during the 4th quarter valued at about $80,000. Institutional investors own 35.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Rodman & Renshaw reaffirmed a “buy” rating on shares of Elicio Therapeutics in a report on Monday, June 15th. Wall Street Zen downgraded Elicio Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. 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 objective on the stock. JonesTrading downgraded Elicio Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, LADENBURG THALM/SH SH started coverage on shares of Elicio Therapeutics in a report on Thursday, June 18th. They issued a “buy” rating and a $12.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

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.