B. Riley Financial Cuts Elicio Therapeutics (NASDAQ:ELTX) Price Target to $8.00

Elicio Therapeutics (NASDAQ:ELTX) had its target price dropped by stock analysts at B. Riley Financial to $8.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley Financial’s price objective points to a potential upside of 339.56% from the stock’s current price.

Several other research firms also recently commented on ELTX. JonesTrading downgraded Elicio Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, June 16th. Wall Street Zen upgraded shares of Elicio Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. HC Wainwright reaffirmed a “buy” rating on shares of Elicio Therapeutics in a research report on Tuesday, August 18th. Rodman & Renshaw restated a “buy” rating on shares of Elicio Therapeutics in a research note on Monday, June 15th. Finally, LADENBURG THALM/SH SH initiated coverage on Elicio Therapeutics in a research report on Thursday, June 18th. They set a “buy” rating and a $12.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Elicio Therapeutics Trading Down 2.7%

ELTX stock traded down $0.05 during trading on Thursday, reaching $1.82. The company had a trading volume of 103,732 shares, compared to its average volume of 700,988. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.77 and a quick ratio of 2.77. Elicio Therapeutics has a 52 week low of $1.71 and a 52 week high of $16.00. The business has a 50 day moving average of $2.73 and a 200 day moving average of $7.08. The company has a market cap of $47.83 million, a P/E ratio of -0.84 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, beating the consensus estimate of ($0.54) by $0.11. As a group, sell-side analysts forecast that Elicio Therapeutics will post -2.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Elicio Therapeutics in the 2nd quarter worth $2,995,000. Deutsche Bank AG purchased a new position in shares of Elicio Therapeutics in the 2nd quarter worth $49,000. Bank of New York Mellon Corp bought a new position in shares of Elicio Therapeutics in the 2nd quarter valued at about $62,000. Bank of America Corp DE increased its stake 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 last quarter. Finally, Renaissance Technologies LLC lifted its stake 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 purchasing an additional 93,520 shares during the last quarter. 35.03% of the stock is currently 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.