Elevation Oncology Merges with Concentra Biosciences

An update from Elevation Oncology ( (ELEV) ) is now available.

On June 8, 2025, Elevation Oncology entered into a merger agreement with Concentra Biosciences, where Concentra will acquire all outstanding shares of Elevation Oncology through a cash tender offer. The merger, unanimously approved by Elevation’s Board, will see the company become a wholly owned subsidiary of Concentra, with significant financial implications for stakeholders, including contingent value rights related to the company’s product candidate EO-1022.

The most recent analyst rating on (ELEV) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Elevation Oncology stock, see the ELEV Stock Forecast page.

Spark’s Take on ELEV Stock

According to Spark, TipRanks’ AI Analyst, ELEV is a Underperform.

Elevation Oncology’s overall stock score is low due to its lack of revenue, ongoing losses, and reliance on external financing, typical of an early-stage biotech firm. Recent corporate restructuring and product discontinuation further dampen the outlook, despite a stable cash position. The technical analysis shows a downward trend, adding to the challenges in valuation. Investors should be cautious and consider the speculative nature of this stock.

To see Spark’s full report on ELEV stock, click here.

More about Elevation Oncology

Elevation Oncology, Inc. operates in the biotechnology industry, focusing on the development of precision medicines for the treatment of cancer. The company’s primary market focus is on targeted therapies that address specific genetic alterations in cancer patients.

Average Trading Volume: 1,314,298

Technical Sentiment Signal: Sell

Current Market Cap: $18.95M

See more data about ELEV stock on TipRanks’ Stock Analysis page.