Elicio Therapeutics (NASDAQ:ELTX) Trading Down 1.7% – Here’s What Happened

Elicio Therapeutics, Inc. (NASDAQ:ELTX) shares were down 1.7% during mid-day trading on Tuesday . The company traded as low as $2.87 and last traded at $2.95. 361,412 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 1,033,446 shares. The stock had previously closed at $3.00.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. HC Wainwright boosted their price target on shares of Elicio Therapeutics from $17.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, June 15th. JonesTrading lowered shares of Elicio Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Rodman & Renshaw reiterated a “buy” rating on shares of Elicio Therapeutics in a report on Monday, June 15th. B. Riley Financial initiated coverage on shares of Elicio Therapeutics in a report on Wednesday, June 10th. They set a “buy” rating and a $27.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Elicio Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

Elicio Therapeutics Stock Down 1.7%

The company has a debt-to-equity ratio of 5.75, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a fifty day moving average price of $6.58 and a two-hundred day moving average price of $8.89. The company has a market cap of $56.32 million, a P/E ratio of -1.23 and a beta of 1.26.

Elicio Therapeutics (NASDAQ:ELTX) last announced its earnings results on Monday, May 11th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.16). On average, research analysts expect that Elicio Therapeutics, Inc. will post -2.08 EPS for the current year.

Institutional Trading of Elicio Therapeutics

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised 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 valued at $39,000 after purchasing an additional 2,335 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Elicio Therapeutics by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 132,518 shares of the company’s stock worth $1,055,000 after purchasing an additional 2,832 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Elicio Therapeutics in the 2nd quarter worth about $46,000. State Street Corp grew its position in 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 purchasing an additional 8,000 shares in the last quarter. Finally, Summit Financial LLC purchased a new stake in Elicio Therapeutics in the 4th quarter valued at about $80,000. 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.