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

Elicio Therapeutics (NASDAQ:ELTX) released its quarterly earnings results on Monday. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.16), FiscalAI reports.

Elicio Therapeutics Stock Performance

ELTX traded up $1.66 on Monday, hitting $11.57. 316,800 shares of the stock traded hands, compared to its average volume of 131,168. Elicio Therapeutics has a 52 week low of $5.15 and a 52 week high of $14.93. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 5.75. The firm has a market capitalization of $216.40 million, a PE ratio of -4.42 and a beta of 1.12. The business has a fifty day moving average price of $11.37 and a two-hundred day moving average price of $9.51.

Institutional Trading of Elicio Therapeutics

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE lifted its position 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 acquiring an additional 2,335 shares during the period. Geode Capital Management LLC lifted its position in shares of Elicio Therapeutics by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 132,518 shares of the company’s stock worth $1,055,000 after acquiring an additional 2,832 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Elicio Therapeutics in the 2nd quarter worth approximately $46,000. State Street Corp lifted its position in shares of Elicio Therapeutics by 20.9% in the 4th quarter. State Street Corp now owns 46,300 shares of the company’s stock worth $369,000 after acquiring an additional 8,000 shares during the period. Finally, Summit Financial LLC bought a new stake in shares of Elicio Therapeutics in the 4th quarter worth approximately $80,000. Institutional investors own 35.03% of the company’s stock.

Analyst Ratings Changes

ELTX has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Elicio Therapeutics in a report on Friday, April 24th. HC Wainwright raised their price target on Elicio Therapeutics from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Wall Street Zen upgraded Elicio Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Rodman & Renshaw raised Elicio Therapeutics to a “strong-buy” rating in a research report on Tuesday, March 10th. Finally, LADENBURG THALM/SH SH started coverage on Elicio Therapeutics in a research note on Wednesday, April 15th. They set a “buy” rating and a $20.00 target price for the company. One equities research 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, the stock currently has an average 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.