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

Key Points

• Zacks Research downgraded Enliven Therapeutics to “strong sell” from “hold,” although broader analyst sentiment remains “Moderate Buy,” with 10 Buy ratings and two Sell ratings and a consensus price target of $74.44.
• ELVN shares opened at $39.28, down 0.5%, well below their 50-day moving average of $52.90. The company also reported a quarterly loss of $0.49 per share, missing the $0.39-per-share consensus estimate.
• Insiders sold approximately $11.1 million of stock over the past 90 days, while institutional investors own 95.08% of the company; BlackRock and First Light Asset Management were among the notable recent buyers.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Tuesday, Zacks reports.

ELVN has been the subject of a number of other research reports. Wall Street Zen cut shares of Enliven Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Guggenheim reissued a "buy" rating on shares of Enliven Therapeutics in a report on Thursday, October 8th. Mizuho raised their price objective on shares of Enliven Therapeutics from $62.00 to $73.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 18th. The Goldman Sachs Group boosted their price objective on Enliven Therapeutics from $67.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. assumed coverage on Enliven Therapeutics in a research report on Thursday, October 1st. They issued an "overweight" rating and a $75.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $74.44.

Enliven Therapeutics Trading Down 0.5%

ELVN stock opened at $39.28 on Tuesday. Enliven Therapeutics has a 1-year low of $14.78 and a 1-year high of $62.32. The business's 50 day simple moving average is $52.90 and its 200 day simple moving average is $47.95. The firm has a market capitalization of $2.88 billion, a PE ratio of -23.52 and a beta of 0.24.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.10). As a group, sell-side analysts predict that Enliven Therapeutics will post -1.79 EPS for the current fiscal year.

Insider Activity

In related news, Director J. Scott Garland sold 13,000 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $46.67, for a total transaction of $606,710.00. Following the transaction, the director directly owned 13,000 shares of the company's stock, valued at approximately $606,710. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mika K. Derynck sold 158,795 shares of Enliven Therapeutics stock in a transaction dated 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. This trade represents a 64.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 189,849 shares of company stock valued at $11,140,085. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ELVN. BlackRock Inc. bought a new stake in Enliven Therapeutics during the second quarter worth about $221,255,000. First Light Asset Management LLC grew its stake in Enliven Therapeutics by 574.1% during the second quarter. First Light Asset Management LLC now owns 1,360,750 shares of the company's stock worth $69,058,000 after buying an additional 1,158,883 shares in the last quarter. Siren L.L.C. bought a new position in Enliven Therapeutics in the 1st quarter valued at about $29,252,000. Jupiter Topco LLC bought a new position in Enliven Therapeutics in the 2nd quarter valued at about $30,617,000. Finally, Affinity Asset Advisors LLC acquired a new position in shares of Enliven Therapeutics in the 1st quarter valued at approximately $23,007,000. 95.08% of the stock is owned by institutional investors.

Enliven Therapeutics Company Profile

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.

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