B. Riley Financial Has Lowered Expectations for Elicio Therapeutics (NASDAQ:ELTX) Stock Price

Elicio Therapeutics (NASDAQ:ELTX) had its price target reduced by equities research analysts at B. Riley Financial to $8.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial’s price objective would indicate a potential upside of 337.16% from the stock’s current price.

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

Elicio Therapeutics Stock Down 2.1%

Shares of ELTX stock traded down $0.04 during trading on Thursday, hitting $1.83. 64,288 shares of the company were exchanged, compared to its average volume of 700,660. The company has a debt-to-equity ratio of 1.20, a quick ratio of 2.77 and a current ratio of 2.77. The firm has a market capitalization of $48.10 million, a price-to-earnings ratio of -0.85 and a beta of 1.29. The business’s 50-day simple moving average is $2.73 and its 200 day simple moving average is $7.08. Elicio Therapeutics has a twelve month low of $1.71 and a twelve month high of $16.00.

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

Hedge Funds Weigh In On Elicio Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Elicio Therapeutics during the second quarter worth $2,995,000. HB Wealth Management LLC bought a new position in Elicio Therapeutics during the first quarter worth $112,000. Bank of New York Mellon Corp bought a new position in Elicio Therapeutics during the second quarter worth $62,000. Bank of America Corp DE increased 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 acquiring an additional 14,176 shares during the period. Finally, Deutsche Bank AG bought a new position in Elicio Therapeutics during the second quarter worth $49,000. Institutional investors own 35.03% of the company’s stock.

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.