Enliven Therapeutics (NASDAQ:ELVN) Sets New 52-Week High After Analyst Upgrade

Enliven Therapeutics, Inc. (NASDAQ:ELVN) shares reached a new 52-week high during trading on Thursday after HC Wainwright raised their price target on the stock from $48.00 to $56.00. HC Wainwright currently has a buy rating on the stock. Enliven Therapeutics traded as high as $36.72 and last traded at $35.53, with a volume of 6419955 shares. The stock had previously closed at $31.15.

Several other brokerages have also recently weighed in on ELVN. Mizuho increased their target price on Enliven Therapeutics from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enliven Therapeutics in a research note on Wednesday, January 21st. Finally, Wall Street Zen lowered Enliven Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.40.

Insider Activity

In other news, CFO Benjamin Hohl sold 10,000 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $29.58, for a total transaction of $295,800.00. Following the completion of the sale, the chief financial officer directly owned 51,000 shares in the company, valued at approximately $1,508,580. This represents a 16.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard A. Heyman sold 9,635 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $25.03, for a total value of $241,164.05. Following the completion of the sale, the director directly owned 25,545 shares in the company, valued at $639,391.35. The trade was a 27.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 232,180 shares of company stock valued at $6,217,033. 25.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enliven Therapeutics

Several hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Enliven Therapeutics by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,884 shares of the company’s stock valued at $44,000 after acquiring an additional 594 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Enliven Therapeutics by 33.3% in the second quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company’s stock valued at $75,000 after acquiring an additional 930 shares in the last quarter. Quantbot Technologies LP increased its position in Enliven Therapeutics by 47.1% during the 2nd quarter. Quantbot Technologies LP now owns 4,477 shares of the company’s stock valued at $90,000 after purchasing an additional 1,434 shares during the period. AlphaQuest LLC bought a new position in Enliven Therapeutics in the 3rd quarter worth $96,000. Finally, Tower Research Capital LLC TRC raised its holdings in Enliven Therapeutics by 194.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,286 shares of the company’s stock worth $106,000 after purchasing an additional 3,490 shares in the last quarter. 95.08% of the stock is owned by hedge funds and other institutional investors.

Enliven Therapeutics Stock Performance

The company’s 50-day moving average price is $28.56 and its 200 day moving average price is $22.97. The stock has a market capitalization of $2.32 billion, a PE ratio of -20.88 and a beta of 0.33.

Enliven Therapeutics (NASDAQ:ELVN) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($0.06). Analysts expect that Enliven Therapeutics, Inc. will post -1.95 earnings per share 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.