Elevation Oncology Inc (ELEV) Stock: What Does the Chart Say Wednesday?

Elevation Oncology Inc (ELEV) stock has risen 19.35% over the past week and gets a Bullish rating from InvestorsObserver Sentiment Indicator.

Elevation Oncology Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on ELEV!

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What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company. Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down. InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend. Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With ELEV Stock Today?

Elevation Oncology Inc (ELEV) stock is trading at $5.18 as of 10:49 AM on Wednesday, Mar 27, an increase of $0.18, or 3.6% from the previous closing price of $5.00. The stock has traded between $4.90 and $5.21 so far today. Volume today is light. So far 346,772 shares have traded compared to average volume of 1,075,809 shares.

More About Elevation Oncology Inc

Elevation Oncology Inc is an oncology company focused on the development of targeted therapeutics for the treatment of cancer in genomically defined patient populations. Its lead program is focused on neuregulin-1, or NRG1, fusions, which are rare genomic alterations that have the potential to be therapeutically actionable through targeted HER3 inhibition. Click Here to get the full Stock Report for Elevation Oncology Inc stock.