Elicio Therapeutics, Inc. (NASDAQ:ELTX) Receives $19.75 Average PT from Brokerages

Shares of Elicio Therapeutics, Inc. (NASDAQ:ELTX) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.75.

A number of analysts recently issued reports on the company. Wall Street Zen raised Elicio Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. B. Riley Financial initiated coverage on Elicio Therapeutics in a research note on Wednesday, June 10th. They set a “buy” rating and a $27.00 price target on the stock. Rodman & Renshaw restated a “buy” rating on shares of Elicio Therapeutics in a research report on Monday, June 15th. LADENBURG THALM/SH SH started coverage on Elicio Therapeutics in a research note on Thursday, June 18th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Weiss Ratings downgraded Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th.

Hedge Funds Weigh In On Elicio Therapeutics

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada purchased a new stake in Elicio Therapeutics during the first quarter worth about $225,000. Jane Street Group LLC purchased a new position in shares of Elicio Therapeutics in the first quarter valued at approximately $92,000. Geode Capital Management LLC grew its holdings in shares of Elicio Therapeutics by 56.0% in the second quarter. Geode Capital Management LLC now owns 120,831 shares of the company’s stock valued at $933,000 after purchasing an additional 43,364 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Elicio Therapeutics in the second quarter valued at approximately $46,000. Finally, Vanguard Group Inc. grew its holdings in shares of Elicio Therapeutics by 4.2% in the third 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. 35.03% of the stock is owned by institutional investors and hedge funds.

Elicio Therapeutics Price Performance

Shares of NASDAQ:ELTX opened at $2.84 on Monday. Elicio Therapeutics has a 52-week low of $2.66 and a 52-week high of $16.00. The stock has a market cap of $74.64 million, a P/E ratio of -1.31 and a beta of 1.30. The business has a fifty day moving average of $3.26 and a two-hundred day moving average of $8.08. 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 (NASDAQ:ELTX) last issued its earnings results on Thursday, August 13th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.11. On average, research analysts expect that Elicio Therapeutics will post -2.1 earnings per share for the current year.

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.