Enliven Therapeutics (NASDAQ:ELVN) Trading 5.3% Higher – Here’s What Happened

Enliven Therapeutics, Inc. (NASDAQ:ELVN) rose 5.3% during mid-day trading on Thursday . The company traded as high as $28.99 and last traded at $28.6850. Approximately 1,011,814 shares were traded during trading, a decline of 7% from the average daily volume of 1,086,826 shares. The stock had previously closed at $27.25.

Analyst Upgrades and Downgrades

ELVN has been the subject of several analyst reports. Wall Street Zen cut Enliven Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Enliven Therapeutics in a research report on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.00.

Enliven Therapeutics Stock Up 12.6%

The stock’s 50-day simple moving average is $27.43 and its two-hundred day simple moving average is $22.34. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -16.73 and a beta of 0.33.

Enliven Therapeutics (NASDAQ:ELVN) last announced its earnings results on Tuesday, March 3rd. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). On average, sell-side analysts forecast that Enliven Therapeutics, Inc. will post -1.95 EPS for the current year.

Insider Buying and Selling at Enliven Therapeutics

In related news, Director Richard A. Heyman sold 1,230 shares of Enliven Therapeutics stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $26.18, for a total transaction of $32,201.40. Following the transaction, the director owned 22,647 shares in the company, valued at approximately $592,898.46. This trade represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Benjamin Hohl sold 10,000 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $29.58, for a total value of $295,800.00. Following the transaction, the chief financial officer directly owned 51,000 shares in the company, valued at $1,508,580. This trade represents a 16.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 237,180 shares of company stock worth $6,301,233 in the last 90 days. 25.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Enliven Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Affinity Asset Advisors LLC acquired a new position in shares of Enliven Therapeutics in the 2nd quarter valued at $8,024,000. Candriam S.C.A. lifted its position in Enliven Therapeutics by 46.3% in the third quarter. Candriam S.C.A. now owns 609,352 shares of the company’s stock valued at $12,473,000 after buying an additional 192,702 shares during the last quarter. Geode Capital Management LLC boosted its stake in Enliven Therapeutics by 7.8% during the second quarter. Geode Capital Management LLC now owns 882,753 shares of the company’s stock worth $17,711,000 after buying an additional 63,580 shares during the period. HighVista Strategies LLC boosted its stake in Enliven Therapeutics by 83.1% during the third quarter. HighVista Strategies LLC now owns 259,135 shares of the company’s stock worth $5,304,000 after buying an additional 117,619 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Enliven Therapeutics by 2,029.3% during the second quarter. Franklin Resources Inc. now owns 430,240 shares of the company’s stock valued at $8,631,000 after acquiring an additional 410,034 shares during the last quarter. 95.08% of the stock is currently owned by institutional investors and hedge funds.

About Enliven Therapeutics

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.