Spruce Street Capital LP Takes Position in Enliven Therapeutics, Inc. $ELVN

Spruce Street Capital LP purchased a new position in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 329,006 shares of the company’s stock, valued at approximately $16,697,055,000. Enliven Therapeutics makes up approximately 3.3% of Spruce Street Capital LP’s portfolio, making the stock its 10th biggest position.

Other institutional investors and hedge funds have also modified their holdings of the company. KBC Group NV purchased a new position in Enliven Therapeutics in the 1st quarter valued at approximately $38,000. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 in the last quarter. BNP Paribas Financial Markets boosted its position in 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 in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Enliven Therapeutics in the fourth quarter valued at $83,000. Finally, Quantbot Technologies LP grew its holdings in Enliven Therapeutics by 47.1% in the second 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. Institutional investors and hedge funds own 95.08% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ELVN shares. William Blair began coverage on Enliven Therapeutics in a research report on Tuesday, August 18th. They issued an “outperform” rating for the company. Mizuho increased their price objective on shares of Enliven Therapeutics from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enliven Therapeutics in a research note on Friday, July 17th. The Goldman Sachs Group raised their target price on shares of Enliven Therapeutics from $67.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Barclays began coverage on shares of Enliven Therapeutics in a research report on Tuesday, August 18th. They set an “overweight” rating and a $78.00 target price for the company. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Enliven Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $75.00.

Insider Buying and Selling

In related news, Director Lori Anne Kunkel sold 10,000 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $50.49, for a total value of $504,900.00. Following the completion of the transaction, the director owned 41,884 shares of the company’s stock, valued at approximately $2,114,723.16. The trade was a 19.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Benjamin Hohl sold 6,018 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $58.58, for a total transaction of $352,534.44. Following the completion of the transaction, the chief financial officer owned 40,036 shares in the company, valued at approximately $2,345,308.88. This trade represents a 13.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 196,849 shares of company stock worth $11,344,257. 3.00% of the stock is owned by corporate insiders.

Enliven Therapeutics Stock Performance

Shares of NASDAQ:ELVN opened at $61.15 on Tuesday. The business’s fifty day moving average price is $53.36 and its two-hundred day moving average price is $42.30. The stock has a market cap of $4.48 billion, a PE ratio of -36.62 and a beta of 0.27. Enliven Therapeutics, Inc. has a one year low of $14.78 and a one year high of $62.32.

Enliven Therapeutics (NASDAQ:ELVN) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.10). As a group, equities research analysts predict that Enliven Therapeutics, Inc. will post -1.69 earnings per share for the current fiscal 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.