Enliven Therapeutics (NASDAQ:ELVN) Shares Down 5.6% - Should You Sell?

Key Points

• ELVN shares fell 5.6% to about $50.37, with trading volume below its daily average. The company remains unprofitable, reporting a quarterly EPS loss of $0.49 versus the $0.39 expected.
• Wall Street sentiment remains favorable: eight analysts rate the stock a Buy and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $75—well above the current price.
• Insiders sold approximately $10.7 million of stock over the past three months, while institutional investors own 95.08% of shares. Enliven is a clinical-stage biotechnology company developing targeted cancer therapies, including ELVN-001 and ELVN-002.

Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report) was down 5.6% during trading on Wednesday . The company traded as low as $50.36 and last traded at $50.3710. Approximately 732,748 shares traded hands during trading, a decline of 40% from the average daily volume of 1,219,042 shares. The stock had previously closed at $53.36.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ELVN. Stifel Nicolaus increased their price target on shares of Enliven Therapeutics from $80.00 to $82.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. HC Wainwright increased their target price on shares of Enliven Therapeutics from $56.00 to $64.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Barclays initiated coverage on Enliven Therapeutics in a research note on Tuesday, August 18th. They issued an "overweight" rating and a $78.00 price target for the company. The Goldman Sachs Group upped their price target on Enliven Therapeutics from $67.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, JonesTrading raised their price objective on Enliven Therapeutics from $45.00 to $70.00 and gave the company a "buy" rating in a report on Monday, June 29th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $75.00.

Enliven Therapeutics Price Performance

The stock has a 50 day moving average price of $56.53 and a 200-day moving average price of $45.75. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of -30.27 and a beta of 0.30.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.10). As a group, research analysts forecast that Enliven Therapeutics, Inc. will post -1.69 earnings per share for the current year.

Insider Activity

In other news, Director Lori Kunkel sold 10,000 shares of the firm's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $50.49, for a total value of $504,900.00. Following the transaction, the director directly owned 41,884 shares of the company's stock, valued at approximately $2,114,723.16. This trade represents a 19.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mika Derynck sold 158,795 shares of the business's 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 transaction, the director owned 87,373 shares in the company, valued at $5,260,728.33. The trade was a 64.51% decrease in their ownership of the stock. 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 sold 180,831 shares of company stock worth $10,735,269 over the last three months. Insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Enliven Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in ELVN. KBC Group NV purchased a new position in shares of Enliven Therapeutics during the first quarter worth $38,000. State of Wyoming acquired a new stake in shares of Enliven Therapeutics in the second quarter valued at $96,000. FNY Investment Advisers LLC purchased a new stake in shares of Enliven Therapeutics in the 2nd quarter valued at $126,000. Arizona State Retirement System lifted its stake in Enliven Therapeutics by 45.1% during the 2nd quarter. Arizona State Retirement System now owns 13,007 shares of the company's stock worth $660,000 after acquiring an additional 4,042 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Enliven Therapeutics by 21.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 23,441 shares of the company's stock worth $919,000 after acquiring an additional 4,105 shares in the last quarter. Institutional investors and hedge funds own 95.08% of the company's stock.

Enliven Therapeutics Company Profile

Enliven Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for the treatment of cancer. The company applies a precision oncology approach, seeking to create targeted therapies that may offer improved efficacy, safety, durability and convenience compared with existing treatments.

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 solid tumors.

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