Elicio Therapeutics (NASDAQ:ELTX) Stock Falls 4.4% – Should You Sell?

Elicio Therapeutics, Inc. (NASDAQ:ELTX)’s stock price was down 4.4% on Tuesday. The company traded as low as $1.4450 and last traded at $1.52. 516,878 shares were traded during trading, an increase of 81% from the average daily volume of 285,067 shares. The stock had previously closed at $1.59.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. B. Riley Financial cut their target price on Elicio Therapeutics to $8.00 and set a “buy” rating on the stock in a research report on Thursday, September 24th. Weiss Ratings restated a “sell (e+)” rating on shares of Elicio Therapeutics in a research note on Tuesday, October 27th. HC Wainwright restated a “buy” rating on shares of Elicio Therapeutics in a research report on Tuesday, August 18th. Finally, Wall Street Zen upgraded Elicio Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Elicio Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Elicio Therapeutics Stock Performance

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’s 50 day simple moving average is $1.94 and its 200-day simple moving average is $6.62.

Elicio Therapeutics (NASDAQ:ELTX) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.14. Analysts anticipate that Elicio Therapeutics, Inc. will post -1.90 EPS for the current fiscal year.

Institutional Investors Weigh In On Elicio Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Shah Capital Management purchased a new stake in shares of Elicio Therapeutics during the third quarter worth $2,275,000. BlackRock Inc. purchased a new position in Elicio Therapeutics in the second quarter valued at $2,995,000. Deutsche Bank AG purchased a new position in Elicio Therapeutics in the second quarter valued at $49,000. Bank of New York Mellon Corp purchased a new position in Elicio Therapeutics in the second quarter valued at $62,000. Finally, Bank of America Corp DE grew its stake in Elicio Therapeutics by 1,225.2% during the 1st quarter. Bank of America Corp DE now owns 15,333 shares of the company’s stock worth $164,000 after purchasing an additional 14,176 shares in the last quarter. 35.03% of the stock is currently owned by institutional investors and hedge funds.

Elicio Therapeutics Company Profile

Elicio Therapeutics, Inc (NASDAQ: ELTX) is a clinical-stage biotechnology company developing immunotherapies designed to activate the immune system against cancer. The company’s approach is based on its proprietary Amphiphile technology, which is intended to direct vaccine components and immune-stimulating agents to lymph nodes, where important immune responses are initiated.

Elicio’s lead program is ELI-002, a therapeutic cancer vaccine being developed for patients with tumors containing mutations in the KRAS gene.