Enliven Therapeutics (NASDAQ:ELVN) Sees Unusually-High Trading Volume – Here’s What Happened

Enliven Therapeutics, Inc. (NASDAQ:ELVN) saw an uptick in trading volume on Friday . 1,147,349 shares were traded during trading, a decline of 1% from the previous session’s volume of 1,154,353 shares.The stock last traded at $42.6360 and had previously closed at $40.36.

Analysts Set New Price Targets

Several brokerages have issued reports on ELVN. The Goldman Sachs Group raised their price objective on shares of Enliven Therapeutics from $41.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wall Street Zen raised shares of Enliven Therapeutics from a “sell” rating to a “hold” rating in a research report on Monday, May 11th. Guggenheim began coverage on shares of Enliven Therapeutics in a research report on Tuesday, May 12th. They set a “buy” rating and a $80.00 price objective on the stock. Mizuho raised their price objective on shares of Enliven Therapeutics from $45.00 to $62.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Finally, HC Wainwright raised their price objective on shares of Enliven Therapeutics from $48.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Enliven Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Enliven Therapeutics Stock Up 11.7%

The firm has a market cap of $2.75 billion, a PE ratio of -27.03 and a beta of 0.29. The company’s fifty day moving average price is $41.30 and its two-hundred day moving average price is $30.62.

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

Insider Buying and Selling at Enliven Therapeutics

In other news, Director Lori Anne Kunkel sold 10,000 shares of Enliven Therapeutics 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 sale, the director owned 51,884 shares of the company’s stock, valued at $1,792,073.36. The trade was a 16.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Enliven Therapeutics

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

About Enliven Therapeutics

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.