B. Riley Financial Issues Pessimistic Forecast for Elicio Therapeutics (NASDAQ:ELTX) Stock Price

Elicio Therapeutics (NASDAQ:ELTX) had its price target decreased by analysts at B. Riley Financial to $8.00 in a research note issued 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 334.55% from the company’s previous close.

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

Elicio Therapeutics Stock Down 1.6%

NASDAQ:ELTX traded down $0.03 on Thursday, hitting $1.84. The stock had a trading volume of 179,460 shares, compared to its average volume of 701,266. 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 stock has a market cap of $48.39 million, a P/E ratio of -0.85 and a beta of 1.29. Elicio Therapeutics has a 1 year low of $1.71 and a 1 year high of $16.00. The firm’s fifty day simple moving average is $2.73 and its two-hundred day simple moving average is $7.08.

Elicio Therapeutics (NASDAQ:ELTX) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.11. Analysts predict that Elicio Therapeutics will post -2.1 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Elicio Therapeutics in the 2nd quarter worth approximately $2,995,000. HB Wealth Management LLC bought a new position in Elicio Therapeutics in the 1st quarter worth approximately $112,000. Renaissance Technologies LLC boosted its holdings in Elicio Therapeutics by 332.7% in the 1st 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 during the period. Bank of New York Mellon Corp bought a new position in Elicio Therapeutics in the 2nd quarter worth approximately $62,000. Finally, Bank of America Corp DE boosted its holdings in Elicio Therapeutics by 1,225.2% in the 1st 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 during the period. 35.03% of the stock is owned by 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.