Analysts Predict Promising Future for Elicio Therapeutics
Jones Trading Begins Coverage with a Strong Buy Recommendation
Fintel reports that on October 31, 2024, Jones trading initiated coverage of Elicio Therapeutics (NasdaqCM:ELTX) with a Buy recommendation.
Significant Price Target Upside Expected
As of October 22, 2024, analysts have set the average one-year price target for Elicio Therapeutics at $10.20 per share. These predictions vary between a low of $10.10 and a high of $10.50. This average price target suggests a potential increase of 139.44% from its recent closing price of $4.26 per share.
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The projected annual revenue for Elicio Therapeutics stands at $0MM, with a projected annual non-GAAP EPS of -0.54.
Institutional Investment Overview
Currently, 35 funds or institutions have reported their positions in Elicio Therapeutics, a number that has remained steady from the last quarter. The average portfolio allocation dedicated to ELTX is just 0.05%, although this has risen significantly by 258.76%. In the past three months, total shares owned by institutions have increased by 52.24%, now totaling 733,000 shares.
The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) holds 185,000 shares, making up 1.72% of the company, with no change since last quarter.
Armistice Capital owns 100,000 shares, representing 0.93% ownership.
Geode Capital Management possesses 72,000 shares, contributing to 0.66% ownership. This marks an increase from their previous holding of 48,000 shares, reflecting a rise of 33.30%, although the firm has decreased its overall portfolio allocation to ELTX by 59.83% over the last quarter.
CM Management has adjusted its holdings down to 50,000 shares, a drop of 50.00%, reducing its portfolio allocation in ELTX by 61.54% in the same time frame.
Arena Investors maintains 50,000 shares, which also amounts to 0.46% ownership.
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This story originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily represent the views of Nasdaq, Inc.
