Enliven Therapeutics (NASDAQ:ELVN) Hits New 1-Year High After Analyst Upgrade

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) reached a new 52-week high during mid-day trading on Monday after JonesTrading raised their price target on the stock from $45.00 to $70.00. JonesTrading currently has a buy rating on the stock. Enliven Therapeutics traded as high as $50.97 and last traded at $50.0140, with a volume of 54786 shares changing hands. The stock had previously closed at $50.08.

Several other equities analysts also recently weighed in on ELVN. HC Wainwright raised their price objective on Enliven Therapeutics from $48.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. The Goldman Sachs Group boosted their target price on Enliven Therapeutics from $41.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Mizuho upped their target price on Enliven Therapeutics from $45.00 to $62.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Guggenheim assumed coverage on Enliven Therapeutics in a research report on Tuesday, May 12th. They issued a “buy” rating and a $80.00 price target for the company. Finally, Stifel Nicolaus assumed coverage on Enliven Therapeutics in a research note on Tuesday, June 9th. They set a “buy” rating and a $60.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Enliven Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $64.50.

Insider Activity at Enliven Therapeutics

In related news, CFO Benjamin Hohl sold 6,018 shares of Enliven Therapeutics stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $43.80, for a total transaction of $263,588.40. Following the completion of the transaction, the chief financial officer directly owned 51,000 shares in the company, valued at $2,233,800. The trade was a 10.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lori Anne Kunkel sold 10,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director directly owned 51,884 shares in the company, valued at approximately $1,792,073.36. The trade was a 16.16% decrease in their position. 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 owned by corporate insiders.

Institutional Trading of Enliven Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Seven Fleet Capital Management LP boosted its stake in shares of Enliven Therapeutics by 159.4% during the first quarter. Seven Fleet Capital Management LP now owns 259,283 shares of the company’s stock valued at $10,164,000 after acquiring an additional 159,330 shares during the last quarter. DV Trading LLC acquired a new position in Enliven Therapeutics in the 1st quarter valued at about $3,734,000. Avidity Partners Management LP raised its stake in Enliven Therapeutics by 185.1% in the 1st quarter. Avidity Partners Management LP now owns 400,000 shares of the company’s stock valued at $15,680,000 after purchasing an additional 259,700 shares during the last quarter. Bank of America Corp DE lifted its holdings in Enliven Therapeutics by 38.1% in the 1st quarter. Bank of America Corp DE now owns 45,162 shares of the company’s stock valued at $1,770,000 after purchasing an additional 12,451 shares in the last quarter. Finally, Stempoint Capital LP purchased a new position in Enliven Therapeutics in the 1st quarter valued at about $14,247,000. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Enliven Therapeutics Trading Up 0.4%

The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -30.17 and a beta of 0.29. The company’s 50 day simple moving average is $42.17 and its 200-day simple moving average is $32.55.

Enliven Therapeutics (NASDAQ:ELVN) last posted its quarterly earnings data 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. Sell-side analysts anticipate that Enliven Therapeutics, Inc. will post -1.71 EPS for the current year.

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.