Enliven Therapeutics (NASDAQ:ELVN) Stock Rating Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Enliven Therapeutics (NASDAQ:ELVN) from a hold rating to a strong sell rating in a research note issued to investors on Tuesday,Zacks reports.

ELVN has been the topic of several other reports. HC Wainwright boosted their price target on shares of Enliven Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 9th. JonesTrading increased their price objective on Enliven Therapeutics from $45.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Guggenheim reissued a “buy” rating on shares of Enliven Therapeutics in a research report on Thursday, October 8th. Mizuho lifted their price objective on Enliven Therapeutics from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Tuesday, August 18th. Finally, The Goldman Sachs Group boosted their target price on Enliven Therapeutics from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $74.44.

Enliven Therapeutics Price Performance

ELVN stock opened at $39.28 on Tuesday. The company’s 50 day simple moving average is $52.90 and its 200-day simple moving average is $47.95. Enliven Therapeutics has a 52-week low of $14.78 and a 52-week high of $62.32. 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 (NASDAQ:ELVN) last announced 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 at Enliven Therapeutics

In other news, Director J. Scott Garland sold 13,000 shares of Enliven Therapeutics stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $46.67, for a total value of $606,710.00. Following the transaction, the director owned 13,000 shares of the company’s stock, valued at $606,710. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mika K. Derynck sold 158,795 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was 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 owned 87,373 shares of the company’s stock, valued at $5,260,728.33. The trade was a 64.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 189,849 shares of company stock worth $11,140,085 over the last 90 days. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ELVN. KBC Group NV bought a new position in Enliven Therapeutics during the 1st quarter worth approximately $38,000. State of Wyoming acquired a new position in Enliven Therapeutics during the second quarter valued at approximately $96,000. FNY Investment Advisers LLC bought a new stake in Enliven Therapeutics in the second quarter valued at approximately $126,000. WINTON GROUP Ltd bought a new position in shares of Enliven Therapeutics during the second quarter worth $228,000. Finally, Squarepoint Ops LLC acquired a new position in Enliven Therapeutics in the second quarter valued at about $259,000. 95.08% of the stock is currently owned by institutional investors and hedge funds.

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.