Elicio Therapeutics (NASDAQ:ELTX) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Elicio Therapeutics (NASDAQ:ELTX) from a strong sell rating to a sell rating in a report published on Saturday.

A number of other research firms have also commented on ELTX. JonesTrading lowered Elicio Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Weiss Ratings downgraded shares of Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th. LADENBURG THALM/SH SH initiated coverage on shares of Elicio Therapeutics in a report on Thursday, June 18th. They set a “buy” rating and a $12.00 price target for the company. Rodman & Renshaw restated a “buy” rating on shares of Elicio Therapeutics in a research report on Monday, June 15th. Finally, B. Riley Financial started coverage on shares of Elicio Therapeutics in a research note on Wednesday, June 10th. They issued a “buy” rating and a $27.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

Elicio Therapeutics Stock Performance

NASDAQ ELTX opened at $3.09 on Friday. The company has a market capitalization of $58.99 million, a price-to-earnings ratio of -1.42 and a beta of 1.30. Elicio Therapeutics has a twelve month low of $2.66 and a twelve month high of $16.00. The stock has a fifty day simple moving average of $4.46 and a 200 day simple moving average of $8.43. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 5.75.

Elicio Therapeutics (NASDAQ:ELTX) last announced 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. Sell-side analysts expect that Elicio Therapeutics will post -2.08 EPS for the current year.

Institutional Investors Weigh In On Elicio Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ELTX. Bank of America Corp DE lifted its stake in 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 period. Raymond James Financial Inc. bought a new stake in shares of Elicio Therapeutics in the 2nd quarter valued at $46,000. Summit Financial LLC bought a new stake in shares of Elicio Therapeutics in the 4th quarter valued at $80,000. HB Wealth Management LLC acquired a new position in shares of Elicio Therapeutics during the 1st quarter valued at $112,000. Finally, HighTower Advisors LLC acquired a new position in shares of Elicio Therapeutics during the 4th quarter valued at $89,000. 35.03% of the stock is currently owned by institutional investors.

About Elicio Therapeutics

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.