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

Elicio Therapeutics (NASDAQ:ELTX) had its target price reduced by equities researchers at B. Riley Financial to $8.00 in a research report issued on Thursday, September 24th, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial’s price objective would indicate a potential upside of 323.06% from the stock’s previous close.

A number of other equities analysts have also recently commented on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Elicio Therapeutics in a research report on Thursday, June 18th. They set a “buy” rating and a $12.00 price objective for the company. Weiss Ratings downgraded Elicio Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 29th. Rodman & Renshaw reaffirmed a “buy” rating on shares of Elicio Therapeutics in a research note on Monday, June 15th. JonesTrading cut Elicio Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, HC Wainwright reiterated a “buy” rating on shares of Elicio Therapeutics in a research report on Tuesday, August 18th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Elicio Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Elicio Therapeutics Stock Up 3.9%

NASDAQ ELTX traded up $0.07 during trading hours on Thursday, reaching $1.89. 14,688 shares of the company’s stock were exchanged, compared to its average volume of 689,598. The company’s 50-day moving average is $2.60 and its two-hundred day moving average is $6.73. Elicio Therapeutics has a one year low of $1.71 and a one year high of $16.00. 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 company has a market capitalization of $49.70 million, a price-to-earnings ratio of -0.87 and a beta of 1.29.

Elicio Therapeutics (NASDAQ:ELTX) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.11. On average, analysts forecast that Elicio Therapeutics will post -1.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Elicio Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG bought a new position in Elicio Therapeutics in the 2nd quarter valued at $49,000. Bank of New York Mellon Corp purchased a new stake in shares of Elicio Therapeutics in the second quarter worth about $62,000. HB Wealth Management LLC purchased a new stake in shares of Elicio Therapeutics in the first quarter worth about $112,000. Bank of America Corp DE lifted its holdings in shares of 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 worth $164,000 after buying an additional 14,176 shares in the last quarter. Finally, Renaissance Technologies LLC raised 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 acquiring an additional 93,520 shares in the last quarter. 35.03% of the stock is 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.