B. Riley Financial Cuts Elicio Therapeutics (NASDAQ:ELTX) Price Target to $8.00

Elicio Therapeutics (NASDAQ:ELTX) had its target price cut by equities researchers at B. Riley Financial to $8.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial’s target price points to a potential upside of 328.95% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. JonesTrading cut shares of Elicio Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 16th. LADENBURG THALM/SH SH began coverage on Elicio Therapeutics in a research report on Thursday, June 18th. They set a “buy” rating and a $12.00 price objective for the company. Rodman & Renshaw restated a “buy” rating on shares of Elicio Therapeutics in a research note on Monday, June 15th. Wall Street Zen raised Elicio Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings downgraded Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Elicio Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Elicio Therapeutics Stock Performance

ELTX stock traded down $0.01 during midday trading on Thursday, hitting $1.86. 49,935 shares of the company traded hands, compared to its average volume of 700,641. Elicio Therapeutics has a twelve month low of $1.71 and a twelve month high of $16.00. The stock has a market capitalization of $49.02 million, a price-to-earnings ratio of -0.86 and a beta of 1.29. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 1.20. The business has a 50 day simple moving average of $2.73 and a 200-day simple moving average of $7.08.

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

Hedge Funds Weigh In On Elicio Therapeutics

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

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.