Enliven Therapeutics (NASDAQ:ELVN) Sets New 1-Year High – Here’s Why

Enliven Therapeutics, Inc. (NASDAQ:ELVNGet Free Report)’s share price reached a new 52-week high on Monday . The company traded as high as $54.90 and last traded at $54.74, with a volume of 53658 shares changing hands. The stock had previously closed at $52.95.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Guggenheim assumed coverage on Enliven Therapeutics in a research report on Tuesday, May 12th. They set a “buy” rating and a $80.00 target price on the stock. HC Wainwright lifted their price target on Enliven Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Wall Street Zen upgraded Enliven Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enliven Therapeutics in a report on Friday, July 17th. Finally, Stifel Nicolaus increased their price objective on Enliven Therapeutics from $60.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Enliven Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

Read Our Latest Research Report on Enliven Therapeutics

Enliven Therapeutics Trading Up 1.9%

The firm has a market cap of $3.27 billion, a P/E ratio of -32.19 and a beta of 0.24. The stock’s fifty day moving average is $46.03 and its two-hundred day moving average is $37.96.

Enliven Therapeutics (NASDAQ:ELVNGet Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.06. On average, analysts forecast that Enliven Therapeutics, Inc. will post -1.57 EPS for the current year.

Insider Activity

In other Enliven Therapeutics news, Director Lori Anne Kunkel sold 10,000 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was 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 in the company, valued at $2,114,723.16. This represents a 19.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Benjamin Hohl sold 6,018 shares of the firm’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $52.64, for a total value of $316,787.52. Following the completion of the sale, the chief financial officer directly owned 46,054 shares in the company, valued at approximately $2,424,282.56. The trade was a 11.56% 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 90 days, insiders have sold 32,036 shares of company stock valued at $1,430,676. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Enliven Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Commodore Capital LP grew its stake in Enliven Therapeutics by 0.4% in the 2nd quarter. Commodore Capital LP now owns 4,692,809 shares of the company’s stock worth $94,138,000 after buying an additional 17,809 shares in the last quarter. Vestal Point Capital LP raised its position in shares of Enliven Therapeutics by 230.2% during the 4th quarter. Vestal Point Capital LP now owns 3,830,000 shares of the company’s stock valued at $58,982,000 after buying an additional 2,670,000 shares in the last quarter. Polar Capital Holdings Plc lifted its holdings in shares of Enliven Therapeutics by 13.5% during the 4th quarter. Polar Capital Holdings Plc now owns 3,513,680 shares of the company’s stock worth $54,111,000 after acquiring an additional 418,673 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Enliven Therapeutics by 5.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,553,014 shares of the company’s stock worth $52,260,000 after acquiring an additional 142,378 shares during the last quarter. Finally, State Street Corp grew its position in Enliven Therapeutics by 9.1% in the fourth quarter. State Street Corp now owns 1,052,862 shares of the company’s stock worth $16,214,000 after acquiring an additional 87,725 shares in the last quarter. 95.08% of the stock is owned by hedge funds and other institutional investors.

Enliven Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

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