Enliven Therapeutics (NASDAQ:ELVN) Issues Earnings Results

Key Points

• Enliven Therapeutics reported a quarterly loss of $0.36 per share, narrower than analysts’ expected loss of $0.45.
• Shares fell $2.46 to $44.79 in Thursday midday trading, despite the earnings beat.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $75.44; insiders sold 31,054 shares over the past three months.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.36) EPS for the quarter, topping analysts' consensus estimates of ($0.45) by $0.09, FiscalAI reports.

Enliven Therapeutics Stock Performance

Enliven Therapeutics stock traded down $2.46 during midday trading on Thursday, reaching $44.79. 1,585,854 shares of the stock were exchanged, compared to its average volume of 1,673,929. The company's fifty day moving average is $47.48 and its 200-day moving average is $42.96. Enliven Therapeutics has a 52 week low of $14.78 and a 52 week high of $62.32.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. HC Wainwright raised their price objective on shares of Enliven Therapeutics from $65.00 to $73.00 and gave the stock a "buy" rating in a report on Monday, October 19th. JPMorgan Chase & Co. initiated coverage on Enliven Therapeutics in a research note on Thursday, October 1st. They issued an "overweight" rating and a $75.00 price objective on the stock. Guggenheim reaffirmed a "buy" rating on shares of Enliven Therapeutics in a report on Thursday, October 8th. Zacks Research downgraded shares of Enliven Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 13th. Finally, Wall Street Zen lowered shares of Enliven Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $75.44.

Insider Buying and Selling at Enliven Therapeutics

In related news, Director J. Scott Garland sold 13,000 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $46.67, for a total value of $606,710.00. Following the sale, the director owned 13,000 shares in the company, valued at approximately $606,710. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Benjamin Hohl sold 6,018 shares of Enliven Therapeutics stock in a transaction on Monday, October 19th. The shares were sold at an average price of $38.48, for a total value of $231,572.64. Following the sale, the chief financial officer directly owned 38,000 shares of the company's stock, valued at $1,462,240. This represents a 13.67% 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 31,054 shares of company stock valued at $1,493,823. Insiders own 3.00% of the company's stock.

About Enliven Therapeutics

Enliven Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for patients with cancer. The company uses small-molecule drug discovery and development to pursue treatments designed to address validated cancer targets and improve patient outcomes.

Enliven's pipeline includes ELVN-001, an investigational BCR-ABL1 tyrosine kinase inhibitor being developed for the treatment of chronic myeloid leukemia, and ELVN-002, an investigational HER2 inhibitor intended for use in patients with HER2-positive solid tumors.

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