Enliven Therapeutics (NASDAQ:ELVN) Stock Gets Downgrade from Zacks Research

Enliven Therapeutics (NASDAQ:ELVN) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday, Zacks reports.

Other analysts have also issued research reports about the company. Morgan Stanley began coverage on Enliven Therapeutics in a report on Friday, October 2nd. They issued an “overweight” rating and a $70.00 target price for the company. Guggenheim reaffirmed a “buy” rating on shares of Enliven Therapeutics in a research report on Thursday, October 8th. Barclays started coverage on Enliven Therapeutics in a report on Tuesday, August 18th. They set an “overweight” rating and a $78.00 price target on the stock. Mizuho lifted their price target on Enliven Therapeutics from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday, August 18th. Finally, Wall Street Zen lowered Enliven Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Ten analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.44.

Enliven Therapeutics Price Performance

ELVN stock opened at $39.28 on Tuesday. The firm has a market capitalization of $2.88 billion, a P/E ratio of -23.52 and a beta of 0.24. Enliven Therapeutics has a 52-week low of $14.78 and a 52-week high of $62.32. The company’s 50 day simple moving average is $52.90 and its 200-day simple moving average is $47.95.

Enliven Therapeutics (NASDAQ:ELVN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.10). Sell-side analysts predict that Enliven Therapeutics will post -1.79 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Benjamin Hohl sold 6,018 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $50.35, for a total transaction of $303,006.30. Following the transaction, the chief financial officer directly owned 38,000 shares of the company’s stock, valued at approximately $1,913,300. The trade was a 13.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mika Derynck sold 158,795 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 87,373 shares in the company, valued at approximately $5,260,728.33. This represents a 64.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 189,849 shares of company stock worth $11,140,085. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Enliven Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in Enliven Therapeutics during the second quarter valued at $221,255,000. First Light Asset Management LLC increased its position in Enliven Therapeutics by 574.1% in the 2nd quarter. First Light Asset Management LLC now owns 1,360,750 shares of the company’s stock worth $69,058,000 after purchasing an additional 1,158,883 shares during the last quarter. Rock Springs Capital Management LP increased its position in Enliven Therapeutics by 3.5% in the 1st quarter. Rock Springs Capital Management LP now owns 826,500 shares of the company’s stock worth $32,399,000 after purchasing an additional 28,095 shares during the last quarter. Jupiter Topco LLC acquired a new position in Enliven Therapeutics in the 2nd quarter worth about $30,617,000. Finally, Siren L.L.C. purchased a new stake in shares of Enliven Therapeutics during the 1st quarter worth about $29,252,000. 95.08% of the stock is currently owned by hedge funds and other 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.