Enliven Therapeutics (NASDAQ:ELVN) Shares Gap Up After Analyst Upgrade

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) gapped up before the market opened on Wednesday after Mizuho raised their price target on the stock from $41.00 to $45.00. The stock had previously closed at $31.15, but opened at $33.76. Mizuho currently has an outperform rating on the stock. Enliven Therapeutics shares last traded at $35.7160, with a volume of 2,626,280 shares changing hands.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Enliven Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enliven Therapeutics in a research report on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $41.80.

Insiders Place Their Bets

In related news, CFO Benjamin Hohl sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $29.58, for a total value of $295,800.00. Following the completion of the transaction, the chief financial officer directly owned 51,000 shares of the company’s stock, valued at $1,508,580. This represents a 16.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard A. Heyman sold 1,230 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $26.18, for a total transaction of $32,201.40. Following the completion of the transaction, the director owned 22,647 shares in the company, valued at $592,898.46. This represents a 5.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 232,180 shares of company stock worth $6,217,033 over the last 90 days. Insiders own 25.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Commodore Capital LP lifted its position in Enliven Therapeutics by 0.4% in the second quarter. Commodore Capital LP now owns 4,692,809 shares of the company’s stock valued at $94,138,000 after acquiring an additional 17,809 shares during the last quarter. Vestal Point Capital LP grew its holdings in shares of Enliven Therapeutics by 230.2% during the fourth quarter. Vestal Point Capital LP now owns 3,830,000 shares of the company’s stock worth $58,982,000 after purchasing an additional 2,670,000 shares during the last quarter. Polar Capital Holdings Plc increased its position in shares of Enliven Therapeutics by 13.5% during the fourth quarter. Polar Capital Holdings Plc now owns 3,513,680 shares of the company’s stock worth $54,111,000 after purchasing an additional 418,673 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Enliven Therapeutics by 5.9% during the third 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 lifted its holdings in shares of Enliven Therapeutics by 9.1% in the 4th quarter. State Street Corp now owns 1,052,862 shares of the company’s stock valued at $16,214,000 after purchasing an additional 87,725 shares during the last quarter. 95.08% of the stock is owned by hedge funds and other institutional investors.

Enliven Therapeutics Trading Up 13.3%

The firm has a market capitalization of $2.11 billion, a PE ratio of -18.90 and a beta of 0.33. The company has a fifty day moving average price of $27.85 and a two-hundred day moving average price of $22.63.

Enliven Therapeutics (NASDAQ:ELVN) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). As a group, equities research analysts predict 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.