Elicio Therapeutics (NASDAQ:ELTX) Given New $8.00 Price Target at B. Riley Financial

Elicio Therapeutics (NASDAQ:ELTX) had its price target dropped by stock analysts at B. Riley Financial to $8.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley Financial’s price objective suggests a potential upside of 337.16% from the company’s previous close.

Several other research analysts have also weighed in on ELTX. Weiss Ratings lowered shares of Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Elicio Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. JonesTrading lowered shares of Elicio Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 16th. HC Wainwright reaffirmed a “buy” rating on shares of Elicio Therapeutics in a report on Tuesday, August 18th. Finally, LADENBURG THALM/SH SH began coverage on shares of Elicio Therapeutics in a research note on Thursday, June 18th. They set a “buy” rating and a $12.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $15.00.

Elicio Therapeutics Stock Performance

Shares of Elicio Therapeutics stock traded down $0.04 on Thursday, reaching $1.83. 195,291 shares of the stock were exchanged, compared to its average volume of 701,524. Elicio Therapeutics has a 1-year low of $1.71 and a 1-year high of $16.00. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 1.20. The business has a fifty day moving average price of $2.73 and a two-hundred day moving average price of $7.08. The firm has a market capitalization of $48.10 million, a PE ratio of -0.84 and a beta of 1.29.

Elicio Therapeutics (NASDAQ:ELTX) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.11. As a group, research analysts anticipate that Elicio Therapeutics will post -2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ELTX. BlackRock Inc. acquired a new stake in Elicio Therapeutics in the second quarter valued at approximately $2,995,000. Deutsche Bank AG acquired a new position in Elicio Therapeutics during the 2nd quarter worth about $49,000. Bank of New York Mellon Corp acquired a new position in Elicio Therapeutics during the 2nd quarter worth about $62,000. Bank of America Corp DE lifted its position in Elicio Therapeutics by 1,225.2% during the 1st quarter. Bank of America Corp DE now owns 15,333 shares of the company’s stock worth $164,000 after buying an additional 14,176 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Elicio Therapeutics by 332.7% during the 1st quarter. Renaissance Technologies LLC now owns 121,631 shares of the company’s stock worth $1,300,000 after buying an additional 93,520 shares in the last quarter. 35.03% of the stock is owned by hedge funds and other institutional investors.

Elicio Therapeutics Company Profile

Elicio Therapeutics is a clinical-stage biotechnology company developing cancer immunotherapies designed to activate and strengthen the immune system’s response to tumors. The company’s approach is based on its Amphiphile technology, which is intended to direct therapeutic agents to lymph nodes, where immune responses are initiated and expanded.

Elicio’s leading program, ELI-002, is an investigational therapeutic cancer vaccine targeting common KRAS mutations. The program is being studied in patients with certain solid tumors, including pancreatic and colorectal cancers, with the goal of treating minimal residual disease and reducing the risk of recurrence.