Enliven Therapeutics (NASDAQ:ELVN) Trading Up 7.4% – Here’s What Happened

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) traded up 7.4% on Friday . The stock traded as high as $26.92 and last traded at $27.0350. 388,599 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 2,057,477 shares. The stock had previously closed at $25.17.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ELVN shares. Wall Street Zen raised Enliven Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Enliven Therapeutics in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Enliven Therapeutics has an average rating of “Moderate Buy” and an average target price of $41.00.

Enliven Therapeutics Stock Up 7.4%

The stock has a market capitalization of $1.60 billion, a P/E ratio of -14.69 and a beta of 0.41. The business’s 50 day simple moving average is $19.60 and its two-hundred day simple moving average is $20.09.

Enliven Therapeutics (NASDAQ:ELVN) last posted its earnings results on Thursday, November 13th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.11. Analysts predict that Enliven Therapeutics, Inc. will post -1.95 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Richard A. Heyman sold 9,635 shares of the company’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $25.03, for a total transaction of $241,164.05. Following the completion of the sale, the director owned 25,545 shares in the company, valued at approximately $639,391.35. This represents a 27.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Anish Patel sold 48,300 shares of Enliven Therapeutics stock in a transaction on Friday, January 9th. The stock was sold at an average price of $27.99, for a total transaction of $1,351,917.00. Following the transaction, the chief operating officer directly owned 215,011 shares in the company, valued at $6,018,157.89. This represents a 18.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 250,550 shares of company stock worth $6,344,066 in the last ninety days. Corporate insiders own 25.90% of the company’s stock.

Hedge Funds Weigh In On Enliven Therapeutics

Several institutional investors have recently modified their holdings of ELVN. Invesco Ltd. increased its position in shares of Enliven Therapeutics by 4.3% during the second quarter. Invesco Ltd. now owns 21,957 shares of the company’s stock valued at $440,000 after acquiring an additional 913 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Enliven Therapeutics by 33.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company’s stock valued at $75,000 after purchasing an additional 930 shares during the period. Quantbot Technologies LP increased its position in shares of 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 last quarter. Legal & General Group Plc raised its stake in shares of Enliven Therapeutics by 4.8% during the 3rd quarter. Legal & General Group Plc now owns 33,765 shares of the company’s stock worth $691,000 after purchasing an additional 1,540 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Enliven Therapeutics by 8.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,729 shares of the company’s stock worth $428,000 after buying an additional 1,693 shares during the last quarter. 95.08% of the stock is owned by institutional investors.

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.