Elicio Therapeutics, Inc. (NASDAQ:ELTX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Elicio Therapeutics, Inc. (NASDAQ:ELTX) have earned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $19.75.

A number of research firms have issued reports on ELTX. Rodman & Renshaw reiterated a “buy” rating on shares of Elicio Therapeutics in a report on Monday, June 15th. HC Wainwright boosted their price target on Elicio Therapeutics from $17.00 to $23.00 and gave the company a “buy” rating in a report on Monday, June 15th. Wall Street Zen cut Elicio Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Elicio Therapeutics in a report on Friday, April 24th. Finally, LADENBURG THALM/SH SH began coverage on Elicio Therapeutics in a research report on Thursday, June 18th. They issued a “buy” rating and a $12.00 target price on the stock.

Institutional Trading of Elicio Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position 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 buying an additional 2,335 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Elicio Therapeutics during the 2nd quarter worth approximately $46,000. Summit Financial LLC acquired a new position in shares of Elicio Therapeutics during the 4th quarter worth approximately $80,000. HighTower Advisors LLC bought a new stake in Elicio Therapeutics in the 4th quarter valued at $89,000. Finally, Jane Street Group LLC bought a new stake in Elicio Therapeutics in the 1st quarter valued at $92,000. Institutional investors and hedge funds own 35.03% of the company’s stock.

Elicio Therapeutics Price Performance

Shares of Elicio Therapeutics stock remained flat at $3.22 on Friday. 4,337,724 shares of the stock traded hands, compared to its average volume of 4,351,905. The company has a fifty day simple moving average of $9.14 and a 200-day simple moving average of $9.47. The company has a debt-to-equity ratio of 5.75, a current ratio of 2.24 and a quick ratio of 2.24. Elicio Therapeutics has a 12 month low of $2.66 and a 12 month high of $16.00. The company has a market capitalization of $61.47 million, a price-to-earnings ratio of -1.34 and a beta of 1.26.

Elicio Therapeutics (NASDAQ:ELTX) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.16). Equities analysts predict that Elicio Therapeutics will post -2.17 EPS 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.