Elicio Therapeutics (NASDAQ:ELTX) Stock Price Target Cut by B. Riley Financial

Elicio Therapeutics (NASDAQ:ELTX) had its price target decreased by analysts at B. Riley Financial to $8.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial’s price objective indicates a potential upside of 334.78% from the company’s previous close.

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

Elicio Therapeutics Price Performance

Shares of Elicio Therapeutics stock traded down $0.01 on Thursday, hitting $1.84. The company’s stock had a trading volume of 452,468 shares, compared to its average volume of 695,520. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.77 and a current ratio of 2.77. Elicio Therapeutics has a 1 year low of $1.71 and a 1 year high of $16.00. The firm has a fifty day moving average price of $2.65 and a 200-day moving average price of $6.87. The company has a market capitalization of $48.36 million, a price-to-earnings ratio of -0.85 and a beta of 1.29.

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

Institutional Investors Weigh In On Elicio Therapeutics

Large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Elicio Therapeutics in the second quarter valued at approximately $2,995,000. Renaissance Technologies LLC lifted its position in Elicio Therapeutics by 332.7% during the first 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. Bank of America Corp DE lifted its position in 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 worth $164,000 after buying an additional 14,176 shares in the last quarter. HB Wealth Management LLC purchased a new position in Elicio Therapeutics during the first quarter worth approximately $112,000. Finally, Bank of New York Mellon Corp purchased a new position in Elicio Therapeutics during the second quarter worth approximately $62,000. 35.03% of the stock is currently owned by hedge funds and other institutional investors.

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.