Elicio Therapeutics, Inc. (NASDAQ:ELTX) Receives Consensus Rating of “Moderate Buy” from Analysts

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

Several research firms recently issued reports on ELTX. Wall Street Zen cut Elicio Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Elicio Therapeutics in a research report on Friday, April 24th. JonesTrading cut shares of Elicio Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 16th. HC Wainwright boosted their price target on shares of Elicio Therapeutics from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Finally, Rodman & Renshaw reissued a “buy” rating on shares of Elicio Therapeutics in a research note on Monday, June 15th.

Elicio Therapeutics Price Performance

ELTX stock remained flat at $3.22 during trading on Friday. 4,337,724 shares of the company traded hands, compared to its average volume of 4,351,905. The company has a 50 day simple moving average of $9.14 and a 200-day simple moving average of $9.47. Elicio Therapeutics has a 1 year low of $2.66 and a 1 year high of $16.00. The company has a debt-to-equity ratio of 5.75, a quick ratio of 2.24 and a current ratio of 2.24. The company has a market cap of $61.47 million, a PE ratio of -1.34 and a beta of 1.26.

Elicio Therapeutics (NASDAQ:ELTX) last announced 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 expect that Elicio Therapeutics will post -2.17 EPS for the current year.

Institutional Trading of Elicio Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings 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 worth $39,000 after acquiring an additional 2,335 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Elicio Therapeutics in the 2nd quarter valued at approximately $46,000. Summit Financial LLC acquired a new position in shares of Elicio Therapeutics in the 4th quarter valued at approximately $80,000. HighTower Advisors LLC acquired a new position in shares of Elicio Therapeutics in the 4th quarter valued at approximately $89,000. Finally, Jane Street Group LLC bought a new stake in Elicio Therapeutics during the 1st quarter worth approximately $92,000. Institutional investors own 35.03% of the company’s stock.

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.