Enliven Therapeutics (NASDAQ:ELVN) Rating Lowered to “Strong Sell” at Zacks Research

Enliven Therapeutics (NASDAQ:ELVN) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

A number of other research firms have also recently commented on ELVN. Morgan Stanley assumed coverage on shares of Enliven Therapeutics in a report on Friday, October 2nd. They issued an “overweight” rating and a $70.00 target price for the company. Stifel Nicolaus upped their price objective on shares of Enliven Therapeutics from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enliven Therapeutics in a research note on Friday, July 17th. Barclays started coverage on shares of Enliven Therapeutics in a research note on Tuesday, August 18th. They set an “overweight” rating and a $78.00 target price on the stock. Finally, JonesTrading upped their price target on shares of Enliven Therapeutics from $45.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.44.

Enliven Therapeutics Stock Performance

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

Enliven Therapeutics (NASDAQ:ELVN) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.10). On average, research analysts forecast that Enliven Therapeutics will post -1.79 earnings per share for the current year.

Insiders Place Their Bets

In other Enliven Therapeutics news, Director Mika 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 transaction, the director directly owned 87,373 shares of the company’s stock, valued at approximately $5,260,728.33. The trade was a 64.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Benjamin Hohl sold 6,018 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer directly owned 38,000 shares in the company, valued at approximately $1,913,300. This represents a 13.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 189,849 shares of company stock valued at $11,140,085. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Enliven Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Enliven Therapeutics during the 2nd quarter worth approximately $221,255,000. First Light Asset Management LLC boosted 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 acquiring an additional 1,158,883 shares in the last quarter. Rock Springs Capital Management LP grew its holdings in Enliven Therapeutics by 3.5% in the first 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 period. Siren L.L.C. acquired a new stake in Enliven Therapeutics in the first quarter worth $29,252,000. Finally, Dimensional Fund Advisors LP increased its stake in Enliven Therapeutics by 70.9% in the first quarter. Dimensional Fund Advisors LP now owns 681,715 shares of the company’s stock valued at $26,714,000 after purchasing an additional 282,822 shares in the last quarter. 95.08% of the stock is owned by institutional investors and hedge funds.

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.