Elevation Oncology Inc (NASDAQ: ELEV): Is Its Value Too High Compared To Others?

Elevation Oncology Inc (NASDAQ:ELEV) shares, rose in value, with the stock price up by 0.78% to the previous day’s close as strong demand from buyers drove the stock to $5.17.

Actively observing the price movement in the last trading, the stock closed the session at $5.13. The value of beta (5-year monthly) was 1.35. Referring to stock’s 52-week performance, its high was $5.89, and the low was $0.36. On the whole, ELEV has fluctuated by 7.48% over the past month.

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As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.2, which is expected to increase to -$0.18 for fiscal year -$0.85 and then to about -$0.89 by fiscal year 2025. Data indicates that the EPS growth is expected to be 36.60% in 2025, while the next year’s EPS growth is forecast to be -4.70%.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ELEV’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ELEV currently trading nearly 13.19% and 40.74% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 69.85, while the 7-day volatility ratio is showing 9.96% which for the 30-day chart, stands at 10.84%. Furthermore, Elevation Oncology Inc (ELEV)’s beta value is 1.37, and its average true range (ATR) is 0.46.

A comparison of Elevation Oncology Inc (ELEV) with its peers suggests the former has fared considerably weaker in the market. ELEV showed an intraday change of 0.78% in last session, and over the past year, it grew by 172.11%%.

Data on historical trading for Elevation Oncology Inc (NASDAQ:ELEV) indicates that the trading volumes over the past 10 days have averaged 1.07 million and over the past 3 months, they’ve averaged 3.13 million. According to company’s latest data on outstanding shares, there are 42.42 million shares outstanding.

Nearly 18.17% of Elevation Oncology Inc’s shares belong to company insiders and institutional investors own 66.17% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.63 million shares as on Mar 15, 2024, resulting in a short ratio of 3.67. According to the data, the short interest in Elevation Oncology Inc (ELEV) stood at 9.51% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 4.01 million. The stock has risen by 862.76% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ELEV stock heading into the next quarter.