Enliven Therapeutics (NASDAQ:ELVN) Stock Price Expected to Rise, JonesTrading Analyst Says

Enliven Therapeutics (NASDAQ:ELVN) had its target price hoisted by investment analysts at JonesTrading from $45.00 to $70.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. JonesTrading’s price objective would indicate a potential upside of 40.07% from the company’s previous close.

Several other research firms have also commented on ELVN. The Goldman Sachs Group raised their price target on shares of Enliven Therapeutics from $41.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Stifel Nicolaus began coverage on shares of Enliven Therapeutics in a research report on Tuesday, June 9th. They issued a “buy” rating and a $60.00 price objective for the company. Guggenheim initiated coverage on shares of Enliven Therapeutics in a research note on Tuesday, May 12th. They set a “buy” rating and a $80.00 target price on the stock. Wall Street Zen upgraded Enliven Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, May 11th. Finally, Mizuho lifted their price target on Enliven Therapeutics from $45.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.50.

Enliven Therapeutics Price Performance

NASDAQ:ELVN traded down $0.10 during midday trading on Monday, hitting $49.98. The company’s stock had a trading volume of 264,956 shares, compared to its average volume of 1,328,117. Enliven Therapeutics has a fifty-two week low of $14.78 and a fifty-two week high of $50.97. The firm’s 50 day moving average is $42.17 and its 200-day moving average is $32.55. The firm has a market cap of $3.04 billion, a P/E ratio of -29.91 and a beta of 0.29.

Enliven Therapeutics (NASDAQ:ELVN) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.06. As a group, analysts forecast that Enliven Therapeutics will post -1.71 EPS for the current year.

Insider Activity

In related news, Director Lori Anne Kunkel sold 10,000 shares of the firm’s 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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed 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 dated Wednesday, June 17th. The stock was sold at an average price of $43.80, for a total value of $263,588.40. Following the completion of the sale, the chief financial officer owned 51,000 shares in the company, valued at approximately $2,233,800. The trade was a 10.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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

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

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.