Enliven Therapeutics (NASDAQ:ELVN) Sees Strong Trading Volume – Time to Buy?

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) saw unusually-strong trading volume on Wednesday . Approximately 636,943 shares were traded during mid-day trading, an increase of 130% from the previous session’s volume of 277,509 shares.The stock last traded at $19.57 and had previously closed at $18.88.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ELVN. BTIG Research started coverage on shares of Enliven Therapeutics in a report on Friday, December 13th. They issued a “buy” rating and a $42.00 price target for the company. HC Wainwright upped their target price on Enliven Therapeutics from $37.00 to $39.00 and gave the company a “buy” rating in a report on Friday, March 21st. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $38.75.

Enliven Therapeutics Stock Down 6.7 %

The firm’s 50-day moving average price is $21.10 and its 200 day moving average price is $23.65. The firm has a market cap of $915.88 million, a P/E ratio of -9.84 and a beta of 1.03.

Enliven Therapeutics (NASDAQ:ELVN) last posted its earnings results on Thursday, March 13th. The company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.07. The firm had revenue of $0.03 million during the quarter. On average, equities analysts predict that Enliven Therapeutics, Inc. will post -1.95 earnings per share for the current year.

Insider Activity at Enliven Therapeutics

In related news, insider Joseph P. Lyssikatos sold 12,500 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $20.61, for a total value of $257,625.00. Following the completion of the transaction, the insider now owns 1,002,688 shares in the company, valued at $20,665,399.68. This represents a 1.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Benjamin Hohl sold 3,250 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $21.33, for a total transaction of $69,322.50. Following the transaction, the chief financial officer now directly owns 23,000 shares in the company, valued at approximately $490,590. The trade was a 12.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,784 shares of company stock worth $1,582,696 in the last three months. 29.20% of the stock is owned by company insiders.

Institutional Trading of Enliven Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in Enliven Therapeutics by 3.5% during the fourth quarter. Invesco Ltd. now owns 15,072 shares of the company’s stock worth $339,000 after purchasing an additional 508 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Enliven Therapeutics by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,036 shares of the company’s stock valued at $451,000 after purchasing an additional 718 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Enliven Therapeutics by 230.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,598 shares of the company’s stock worth $36,000 after buying an additional 1,114 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Enliven Therapeutics by 14.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,360 shares of the company’s stock worth $233,000 after buying an additional 1,275 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in shares of Enliven Therapeutics by 6.3% in the fourth quarter. MetLife Investment Management LLC now owns 21,746 shares of the company’s stock valued at $489,000 after buying an additional 1,285 shares during the period. 95.08% of the stock is owned by institutional investors and hedge funds.

Enliven Therapeutics Company Profile

Enliven Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of small molecule inhibitors to help patients with cancer. The company’s lead product candidates comprise ELVN-001, which is being evaluated in a Phase 1 clinical trial in adults with chronic myeloid leukemia; and ELVN-002, a Phase 1 clinical trial in adults with solid tumors with HER2 alterations.