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Elevation Oncology ( (ELEV) ) has issued an update.
On June 26, 2025, Elevation Oncology, Inc. and CSPC Megalith Biopharmaceutical Co., Ltd. mutually agreed to terminate their License Agreement, originally established on July 27, 2022. This termination follows Elevation Oncology’s decision on March 20, 2025, to discontinue the development of EO-3021, a Claudin 18.2 antibody-drug conjugate for cancer treatment, resulting in the reversion of all related intellectual property rights to CSPC and the cessation of any further payments between the two companies.
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 biopharmaceutical industry, focusing on the development and commercialization of precision medicines for the treatment of cancer.
Average Trading Volume: 1,415,327
Technical Sentiment Signal: Sell
Current Market Cap: $21.82M
Learn more about ELEV stock on TipRanks’ Stock Analysis page.