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Short interest in Elevation Oncology, Inc. rose by 124.0% to 1,800,000 shares on January 15th, making up 5.2% of the total stock shares. The short-interest ratio is at 0.8 days based on an average trading volume of 2,260,000 shares. On Friday, Elevation Oncology traded up 12.7% at $2.76 per share, compared to the average volume of 6,639,711 shares.

Elevation Oncology has a 12-month low of $0.36 and a high of $5.89. The firm has a market capitalization of $117.08 million, P/E ratio of -0.51, and beta of 0.59. Its current ratio and quick ratio are 12.99, with a debt-to-equity ratio of 0.48. Elevation Oncology last released quarterly earnings with $0.09 EPS, beating analyst estimates by $0.09. Wedbush maintained an “outperform” rating and price objective of $5.00 in November.

Hedge funds and institutional investors have significantly traded ELEV shares. vinBio Partners LLC currently owns 2,914,255 shares of the company’s stock worth $4,430,000 after purchasing an additional 1,047,916 shares. With 83.70% of the company’s stock being owned by hedge funds and institutional investors.

Elevation Oncology is focusing on developing cancer therapies for solid tumor patients. Its lead candidate, EO-3021, is an antibody-drug conjugate targeting Claudin 18.2. As an oncology company, Elevation Oncology is set on addressing unmet medical needs of patients with cancer.



Read more: Elevation Oncology, Inc. (NASDAQ:ELEV) Sees Large Increase in Short Interest