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

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $48.79 and last traded at $48.60, with a volume of 1927396 shares trading hands. The stock had previously closed at $45.96.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ELVN shares. HC Wainwright increased their price target on Enliven Therapeutics from $48.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Stifel Nicolaus began coverage on shares of Enliven Therapeutics in a research note on Tuesday, June 9th. They issued a “buy” rating and a $60.00 price objective on the stock. Guggenheim started coverage on shares of Enliven Therapeutics in a research report on Tuesday, May 12th. They set a “buy” rating and a $80.00 price objective for the company. Wall Street Zen upgraded shares of Enliven Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Enliven Therapeutics in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.40.

Enliven Therapeutics Trading Up 5.7%

The business has a 50 day moving average price of $41.82 and a 200-day moving average price of $31.76. The firm has a market capitalization of $2.96 billion, a PE ratio of -29.10 and a beta of 0.29.

Enliven Therapeutics (NASDAQ:ELVN) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.06. On average, equities research analysts forecast that Enliven Therapeutics, Inc. will post -1.71 earnings per share for the current year.

Insider Transactions at Enliven Therapeutics

In other Enliven Therapeutics news, Director Lori Anne Kunkel sold 10,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $34.54, for a total value of $345,400.00. Following the completion of the transaction, the director directly owned 51,884 shares of the company’s stock, valued at approximately $1,792,073.36. This trade represents a 16.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Benjamin Hohl sold 6,018 shares of Enliven Therapeutics stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $43.80, for a total value of $263,588.40. Following the transaction, the chief financial officer directly owned 51,000 shares of the company’s stock, valued at approximately $2,233,800. This represents a 10.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enliven Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. Commodore Capital LP raised its position in Enliven Therapeutics by 0.4% during the second quarter. Commodore Capital LP now owns 4,692,809 shares of the company’s stock worth $94,138,000 after acquiring an additional 17,809 shares during the last quarter. Vestal Point Capital LP grew its position in shares of Enliven Therapeutics by 230.2% in the fourth quarter. Vestal Point Capital LP now owns 3,830,000 shares of the company’s stock valued at $58,982,000 after purchasing an additional 2,670,000 shares during the last quarter. Polar Capital Holdings Plc grew its position in shares of Enliven Therapeutics by 13.5% in the fourth quarter. Polar Capital Holdings Plc now owns 3,513,680 shares of the company’s stock valued at $54,111,000 after purchasing an additional 418,673 shares during the last quarter. Vanguard Group Inc. increased its stake 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 purchasing an additional 142,378 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Enliven Therapeutics by 9.1% during the 4th quarter. State Street Corp now owns 1,052,862 shares of the company’s stock worth $16,214,000 after purchasing an additional 87,725 shares in the last quarter. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

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.