Could Elevation Oncology Inc (NASDAQ: ELEV) Deliver Exceptional Returns?

In the last trading session, 3.45 million shares of the Elevation Oncology Inc (NASDAQ:ELEV) were traded, and its beta was 1.37. Most recently the company’s share price was $5.13, and it changed around $0.14 or 2.81% from the last close, which brings the market valuation of the company to $249.57M. ELEV currently trades at a discount to its 52-week high of $5.89, offering almost -14.81% off that amount. The share price’s 52-week low was $0.36, which indicates that the current value has risen by an impressive 92.98% since then. We note from Elevation Oncology Inc’s average daily trading volume that its 10-day average is 0.91 million shares, with the 3-month average coming to 3.08 million.

Elevation Oncology Inc (NASDAQ:ELEV) trade information

Instantly ELEV has showed a green trend with a performance of 2.81% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 855.31% year-to-date, but still up 12.01% over the last five days. On the other hand, Elevation Oncology Inc (NASDAQ:ELEV) is 2.40% up in the 30-day period. We can see from the shorts that 4.63 million shares have been sold at a short interest cover period of 3.67 day(s).

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Elevation Oncology Inc (ELEV) estimates and forecasts

Elevation Oncology Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 674.22 percent over the past six months and at a 35.07% annual growth rate that is well above the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 72.20% in revenue this quarter, and will report an increase of 43.20% in the next quarter.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -52.56%.

ELEV Dividends

Elevation Oncology Inc’s next quarterly earnings report is expected to be released in May.

Elevation Oncology Inc (NASDAQ:ELEV)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.97% of Elevation Oncology Inc shares, and 80.20% of them are in the hands of institutional investors. The stock currently has a share float of 81.81%. Elevation Oncology Inc stock is held by 38 institutions, with Tang Capital Management, LLC being the largest institutional investor. By Jun 29, 2023, it held 9.44% of the shares, which is about 4.0 million shares worth $6.08 million.

venBio Partners LLC, with 6.88% or 2.91 million shares worth $4.43 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 0.85 million shares worth $1.3 million, making up 2.02% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 0.2 million shares worth around $0.31 million, which represents about 0.48% of the total shares outstanding.