Enliven Therapeutics, Inc. (NASDAQ:ELVN) Sees Large Drop in Short Interest

Enliven Therapeutics, Inc. (NASDAQ:ELVN) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 6,053,456 shares, a decline of 26.3% from the March 15th total of 8,215,500 shares. Currently, 13.7% of the shares of the company are short sold. Based on an average trading volume of 2,117,376 shares, the days-to-cover ratio is currently 2.9 days.

Insider Activity at Enliven Therapeutics

In related news, insider Joseph P. Lyssikatos sold 5,000 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $29.04, for a total transaction of $145,200.00. Following the completion of the sale, the insider owned 740,188 shares in the company, valued at $21,495,059.52. This represents a 0.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Benjamin Hohl sold 10,000 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $29.58, for a total transaction of $295,800.00. Following the transaction, the chief financial officer directly owned 51,000 shares in the company, valued at $1,508,580. The trade was a 16.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 37,460 shares of company stock worth $1,041,104 in the last 90 days. 25.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Enliven Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Enliven Therapeutics by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,884 shares of the company’s stock valued at $44,000 after purchasing an additional 594 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Enliven Therapeutics by 33.3% in the second quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company’s stock valued at $75,000 after buying an additional 930 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Enliven Therapeutics by 47.1% during the 2nd quarter. Quantbot Technologies LP now owns 4,477 shares of the company’s stock valued at $90,000 after acquiring an additional 1,434 shares during the period. AlphaQuest LLC purchased a new stake in shares of Enliven Therapeutics during the 3rd quarter worth approximately $96,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Enliven Therapeutics by 194.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,286 shares of the company’s stock worth $106,000 after acquiring an additional 3,490 shares during the period. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Enliven Therapeutics Trading Up 6.1%

Shares of Enliven Therapeutics stock traded up $2.77 on Friday, reaching $48.11. 1,382,921 shares of the stock were exchanged, compared to its average volume of 1,313,316. The firm has a market capitalization of $2.88 billion, a PE ratio of -25.87 and a beta of 0.26. Enliven Therapeutics has a 1-year low of $14.78 and a 1-year high of $48.53. The business has a fifty day moving average price of $32.79 and a two-hundred day moving average price of $25.15.

Enliven Therapeutics (NASDAQ:ELVN) last released its earnings results on Tuesday, March 3rd. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.06). Research analysts expect that Enliven Therapeutics will post -1.95 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ELVN. Wall Street Zen cut Enliven Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Mizuho lifted their target price on Enliven Therapeutics from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, March 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enliven Therapeutics in a report on Wednesday, January 21st. Finally, HC Wainwright upped their price target on Enliven Therapeutics from $48.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.40.

Enliven Therapeutics Company Profile

Enliven Therapeutics is a clinical-stage biotechnology company focused on developing small-molecule therapies that harness induced proximity mechanisms to selectively target and degrade disease-causing proteins in cancer. Leveraging its proprietary Induced Proximity platform, the company designs molecular glues and related modalities to recruit endogenous cellular machinery for targeted protein degradation, with the goal of treating malignancies driven by so-called “undruggable” oncogenic factors.

The company’s pipeline comprises several early-stage programs directed at key oncogenic drivers across hematologic and solid tumor indications.