Wall Street Zen Upgrades Elicio Therapeutics (NASDAQ:ELTX) to “Sell”

Elicio Therapeutics (NASDAQ:ELTX) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities analysts have also commented on ELTX. HC Wainwright raised their price objective on Elicio Therapeutics from $17.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. JonesTrading downgraded Elicio Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Rodman & Renshaw reissued a “buy” rating on shares of Elicio Therapeutics in a report on Monday, June 15th. Weiss Ratings lowered Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, July 29th. Finally, LADENBURG THALM/SH SH started coverage on Elicio Therapeutics in a research report on Thursday, June 18th. They issued a “buy” rating and a $12.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $19.75.

Elicio Therapeutics Price Performance

Shares of ELTX opened at $3.09 on Friday. Elicio Therapeutics has a 12 month low of $2.66 and a 12 month high of $16.00. The firm’s 50 day moving average is $4.46 and its 200-day moving average is $8.43. The stock has a market capitalization of $58.99 million, a PE ratio of -1.42 and a beta of 1.30. The company has a current ratio of 2.77, a quick ratio of 2.77 and a debt-to-equity ratio of 1.20.

Elicio Therapeutics (NASDAQ:ELTX) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.11. Equities research analysts forecast that Elicio Therapeutics will post -2.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Elicio Therapeutics during the second quarter valued at approximately $2,995,000. Vanguard Group Inc. boosted its holdings in shares of Elicio Therapeutics by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 473,859 shares of the company’s stock valued at $5,184,000 after purchasing an additional 19,240 shares in the last quarter. Geode Capital Management LLC increased its stake 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 valued at $1,055,000 after purchasing an additional 2,832 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Elicio Therapeutics by 332.7% in the 1st quarter. Renaissance Technologies LLC now owns 121,631 shares of the company’s stock valued at $1,300,000 after purchasing an additional 93,520 shares during the last quarter. Finally, Susquehanna International Group LLP increased its stake in shares of Elicio Therapeutics by 606.1% in the 3rd quarter. Susquehanna International Group LLP now owns 120,207 shares of the company’s stock valued at $1,315,000 after purchasing an additional 103,184 shares during the last quarter. 35.03% of the stock is owned by institutional investors.

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.