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

Elicio Therapeutics (NASDAQ:ELTX) had its price objective lowered by stock analysts at B. Riley Financial to $8.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial’s price objective points to a potential upside of 325.53% from the company’s current price.

Several other brokerages also recently commented on ELTX. LADENBURG THALM/SH SH began 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. HC Wainwright restated a “buy” rating on shares of Elicio Therapeutics in a research report on Tuesday, August 18th. Wall Street Zen upgraded Elicio Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Rodman & Renshaw restated a “buy” rating on shares of Elicio Therapeutics in a research report on Monday, June 15th. Finally, JonesTrading cut Elicio Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Elicio Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $15.00.

Elicio Therapeutics Stock Performance

NASDAQ ELTX traded up $0.01 during trading on Thursday, hitting $1.88. The company’s stock had a trading volume of 339,743 shares, compared to its average volume of 702,334. 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 firm has a 50 day moving average price of $2.70 and a 200 day moving average price of $7.01. The firm has a market cap of $49.41 million, a P/E ratio of -0.87 and a beta of 1.29. Elicio Therapeutics has a 52 week low of $1.71 and a 52 week high of $16.00.

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

Institutional Trading of Elicio Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. HB Wealth Management LLC bought a new stake in shares of Elicio Therapeutics during the first quarter valued at approximately $112,000. Deutsche Bank AG bought a new stake in Elicio Therapeutics in the second quarter valued at $49,000. Bank of America Corp DE grew its position in Elicio Therapeutics by 1,225.2% in 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. Bank of New York Mellon Corp bought a new stake in Elicio Therapeutics in the second quarter valued at $62,000. Finally, Renaissance Technologies LLC grew its position in Elicio Therapeutics by 332.7% in 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 currently owned by 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.