JPMorgan Chase & Co. Begins Coverage on Enliven Therapeutics (NASDAQ:ELVN)

Stock analysts at JPMorgan Chase & Co. assumed coverage on shares of Enliven Therapeutics (NASDAQ:ELVN) in a note issued to investors on Thursday, Briefing.com reports. The firm set an “overweight” rating and a $75.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 63.61% from the stock’s current price.

Several other research firms have also recently weighed in on ELVN. William Blair initiated coverage on Enliven Therapeutics in a report on Tuesday, August 18th. They issued an “outperform” rating on the stock. Barclays initiated coverage on Enliven Therapeutics in a report on Tuesday, August 18th. They set an “overweight” rating and a $78.00 price objective for the company. Wall Street Zen downgraded shares of Enliven Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. HC Wainwright lifted their target price on shares of Enliven Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, The Goldman Sachs Group boosted their price target on shares of Enliven Therapeutics from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $75.00.

Enliven Therapeutics Price Performance

ELVN opened at $45.84 on Thursday. The firm has a market capitalization of $3.36 billion, a P/E ratio of -27.45 and a beta of 0.30. Enliven Therapeutics has a one year low of $14.78 and a one year high of $62.32. The company has a fifty day moving average price of $55.48 and a 200-day moving average price of $47.12.

Enliven Therapeutics (NASDAQ:ELVN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.10). On average, analysts expect that Enliven Therapeutics will post -1.69 earnings per share for the current year.

Insider Buying and Selling at Enliven Therapeutics

In other news, Director Lori Kunkel sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $50.49, for a total value of $504,900.00. Following the completion of the sale, the director directly owned 41,884 shares in the company, valued at approximately $2,114,723.16. The trade was a 19.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mika K. Derynck sold 158,795 shares of the company’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $60.21, for a total transaction of $9,561,046.95. Following the completion of the sale, the director directly owned 87,373 shares of the company’s stock, valued at $5,260,728.33. This trade represents a 64.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 186,849 shares of company stock worth $11,038,275 over the last ninety days. Insiders own 3.00% of the company’s stock.

Institutional Trading of Enliven Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Enliven Therapeutics during the second quarter valued at about $221,255,000. Polar Capital Holdings Plc lifted its position in Enliven Therapeutics by 13.5% in the fourth quarter. Polar Capital Holdings Plc now owns 3,513,680 shares of the company’s stock valued at $54,111,000 after purchasing an additional 418,673 shares during the last quarter. First Light Asset Management LLC lifted its position in Enliven Therapeutics by 574.1% in the second quarter. First Light Asset Management LLC now owns 1,360,750 shares of the company’s stock valued at $69,058,000 after purchasing an additional 1,158,883 shares during the last quarter. Rock Springs Capital Management LP boosted its stake in shares of Enliven Therapeutics by 3.5% during the first quarter. Rock Springs Capital Management LP now owns 826,500 shares of the company’s stock valued at $32,399,000 after purchasing an additional 28,095 shares during the period. Finally, Siren L.L.C. purchased a new stake in shares of Enliven Therapeutics during the first quarter valued at approximately $29,252,000. 95.08% of the stock is owned by institutional investors.

About Enliven Therapeutics

Enliven Therapeutics, Inc (NASDAQ: ELVN) is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for the treatment of cancer. The company seeks to develop therapies designed to address significant unmet needs in oncology, with an emphasis on targeted treatments that may offer improved efficacy, safety, or durability.

Enliven’s pipeline includes ELVN-001, an investigational BCR-ABL1 tyrosine kinase inhibitor being developed for patients with chronic myeloid leukemia, and ELVN-002, an investigational HER2 inhibitor intended for the treatment of HER2-driven cancers.