Enliven Therapeutics (NASDAQ:ELVN) Shares Gap Up – Still a Buy?

Enliven Therapeutics, Inc. (NASDAQ:ELVN) gapped up before the market opened on Thursday . The stock had previously closed at $37.00, but opened at $45.01. Enliven Therapeutics shares last traded at $41.8640, with a volume of 1,466,401 shares trading hands.

Analyst Ratings Changes

ELVN has been the subject of a number of recent analyst reports. Guggenheim initiated coverage on Enliven Therapeutics in a research note on Tuesday, May 12th. They set a “buy” rating and a $80.00 price objective for the company. Stifel Nicolaus initiated coverage on Enliven Therapeutics in a research note on Tuesday. They set a “buy” rating and a $60.00 price objective for the company. Wall Street Zen upgraded Enliven Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, May 11th. The Goldman Sachs Group lifted 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. Finally, HC Wainwright lifted their target price on Enliven Therapeutics from $48.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. One equities research 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Enliven Therapeutics Stock Up 11.7%

The company has a market cap of $2.52 billion, a P/E ratio of -24.75 and a beta of 0.29. The company has a 50 day moving average price of $41.28 and a 200-day moving average price of $30.48.

Enliven Therapeutics (NASDAQ:ELVN) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.06. On average, research analysts expect that Enliven Therapeutics, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Activity at Enliven Therapeutics

In other news, Director Lori Anne Kunkel sold 10,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $34.54, for a total value of $345,400.00. Following the sale, the director owned 51,884 shares of the company’s stock, valued at approximately $1,792,073.36. The trade was a 16.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Enliven Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. KBC Group NV acquired a new stake in shares of Enliven Therapeutics during the first quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. raised its position 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 worth $44,000 after purchasing an additional 594 shares during the period. BNP Paribas Financial Markets raised its position in shares of Enliven Therapeutics by 33.3% during the second quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company’s stock worth $75,000 after purchasing an additional 930 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Enliven Therapeutics during the fourth quarter worth $83,000. Finally, Quantbot Technologies LP raised its position in shares of Enliven Therapeutics by 47.1% during the second quarter. Quantbot Technologies LP now owns 4,477 shares of the company’s stock worth $90,000 after purchasing an additional 1,434 shares during the period. Institutional investors own 95.08% of the company’s stock.

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.