Elicio Therapeutics (NASDAQ:ELTX) Announces Quarterly Earnings Results

Elicio Therapeutics (NASDAQ:ELTX) issued its quarterly earnings results on Thursday. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.11, FiscalAI reports.

Elicio Therapeutics Trading Up 2.9%

Shares of Elicio Therapeutics stock opened at $3.15 on Friday. The stock’s 50-day simple moving average is $4.66 and its 200 day simple moving average is $8.47. Elicio Therapeutics has a 52-week low of $2.66 and a 52-week 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 stock has a market capitalization of $60.13 million, a P/E ratio of -1.31 and a beta of 1.30.

Analyst Upgrades and Downgrades

ELTX has been the subject of several recent analyst reports. JonesTrading cut Elicio Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 16th. B. Riley Financial began 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. 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 report on Monday, June 15th. Weiss Ratings cut Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 29th. Finally, LADENBURG THALM/SH SH started coverage on Elicio Therapeutics in a report on Thursday, June 18th. They set a “buy” rating and a $12.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Elicio Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $19.75.

Hedge Funds Weigh In On Elicio Therapeutics

A number of large investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its stake in 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 period. Raymond James Financial Inc. purchased a new stake in Elicio Therapeutics during the second quarter valued at about $46,000. Summit Financial LLC purchased a new position in shares of Elicio Therapeutics during the fourth quarter worth approximately $80,000. HighTower Advisors LLC purchased a new position in Elicio Therapeutics in the 4th quarter worth approximately $89,000. Finally, Jane Street Group LLC purchased a new stake in Elicio Therapeutics in the 1st quarter worth approximately $92,000. 35.03% of the stock is 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.