TD Cowen analyst Marc Frahm downgraded Elevation Oncology (ELEV) to Hold from Buy after Concentra Biosciences agreed to acquire Elevation for 36c in cash per share plus one non-tradeable contingent value right. The firm views Elevation’s planned acquisition as “likely the best path forward” for shareholders given the limited ability of the company to establish a clearly differentiated ADC program with its existing cash runway, the analyst tells investors.
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Read More on ELEV:
- Elevation Oncology downgraded to Market Perform from Outperform at William Blair
- Elevation Oncology Merges with Concentra Biosciences
- Elevation enters into agreement to be acquired by Concentra for 36c per share
- Elevation Oncology: Hold Rating Amid Strategic Uncertainty and Financial Constraints
- Elevation Oncology Reports Q1 2025 Financial Results