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

Elicio Therapeutics (NASDAQ:ELTX) had its target price lowered by investment 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 points to a potential upside of 335.73% from the company’s current price.

Several other research firms have also commented on ELTX. LADENBURG THALM/SH SH initiated coverage on shares of Elicio Therapeutics in a research report on Thursday, June 18th. They issued a “buy” rating and a $12.00 price objective on the stock. Wall Street Zen upgraded shares of Elicio Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Rodman & Renshaw reaffirmed a “buy” rating on shares of Elicio Therapeutics in a report on Monday, June 15th. JonesTrading cut shares of Elicio Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Finally, HC Wainwright restated a “buy” rating on shares of Elicio Therapeutics in a research report on Tuesday, August 18th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Elicio Therapeutics Price Performance

NASDAQ ELTX traded down $0.03 during mid-day trading on Thursday, hitting $1.84. The stock had a trading volume of 197,792 shares, compared to its average volume of 701,543. The company has a 50 day simple moving average of $2.73 and a 200 day simple moving average of $7.08. The company has a market cap of $48.25 million, a price-to-earnings ratio of -0.85 and a beta of 1.29. Elicio Therapeutics has a 52-week low of $1.71 and a 52-week high of $16.00. The company has a quick ratio of 2.77, a current ratio of 2.77 and a debt-to-equity ratio of 1.20.

Elicio Therapeutics (NASDAQ:ELTX) last posted its earnings results on Thursday, August 13th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.11. Equities analysts forecast that Elicio Therapeutics will post -2.1 EPS for the current fiscal year.

Institutional Trading of Elicio Therapeutics

A number of hedge funds have recently added to or reduced their stakes in ELTX. BlackRock Inc. acquired a new position in Elicio Therapeutics during the second quarter worth approximately $2,995,000. Renaissance Technologies LLC boosted its holdings 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. Bank of America Corp DE grew its stake in shares of 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 valued at $164,000 after buying an additional 14,176 shares during the period. HB Wealth Management LLC acquired a new stake in shares of Elicio Therapeutics during the 1st quarter worth $112,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Elicio Therapeutics during the 2nd quarter worth $62,000. 35.03% of the stock is owned by institutional investors and hedge funds.

About Elicio Therapeutics

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.