Elicio Therapeutics (NASDAQ:ELTX) Releases Earnings Results, Misses Expectations By $0.16 EPS

Elicio Therapeutics (NASDAQ:ELTX) posted its earnings results on Monday. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.16), FiscalAI reports.

Elicio Therapeutics Stock Up 17.2%

Elicio Therapeutics stock opened at $11.61 on Tuesday. Elicio Therapeutics has a 52 week low of $5.15 and a 52 week high of $14.93. The stock has a market cap of $217.11 million, a price-to-earnings ratio of -4.43 and a beta of 1.12. The company’s 50-day moving average price is $11.38 and its two-hundred day moving average price is $9.53. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 5.75.

Hedge Funds Weigh In On Elicio Therapeutics

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Elicio Therapeutics by 4.2% during the 3rd 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 during the period. Bank of America Corp DE grew its stake in shares of Elicio Therapeutics by 186.8% in the 3rd quarter. Bank of America Corp DE now owns 3,585 shares of the company’s stock worth $39,000 after purchasing an additional 2,335 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Elicio Therapeutics in the 2nd quarter worth approximately $46,000. Summit Financial LLC acquired a new position in shares of Elicio Therapeutics in the 4th quarter worth approximately $80,000. Finally, HighTower Advisors LLC acquired a new position in shares of Elicio Therapeutics in the 4th quarter worth approximately $89,000. 35.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Rodman & Renshaw upgraded Elicio Therapeutics to a “strong-buy” rating in a research report on Tuesday, March 10th. HC Wainwright raised their target price on Elicio Therapeutics from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, March 13th. LADENBURG THALM/SH SH assumed coverage on Elicio Therapeutics in a research report on Wednesday, April 15th. They issued a “buy” rating and a $20.00 target price on the stock. Wall Street Zen upgraded Elicio Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Elicio Therapeutics in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Elicio Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

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.