Mika Derynck Sells 158,795 Shares of Enliven Therapeutics (NASDAQ:ELVN) Stock

Enliven Therapeutics, Inc. (NASDAQ:ELVN) Director Mika Derynck sold 158,795 shares of the company’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $60.21, for a total transaction of $9,561,046.95. Following the completion of the transaction, the director directly owned 87,373 shares in the company, valued at approximately $5,260,728.33. The trade was a 64.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Enliven Therapeutics Stock Up 0.3%

Enliven Therapeutics stock opened at $60.46 on Friday. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of -36.20 and a beta of 0.27. The business has a 50-day simple moving average of $48.62 and a 200 day simple moving average of $39.68. Enliven Therapeutics, Inc. has a 52 week low of $14.78 and a 52 week 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 the consensus estimate of ($0.39) by ($0.10). On average, research analysts anticipate that Enliven Therapeutics, Inc. will post -1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. HC Wainwright lifted their price objective on shares of Enliven Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Wall Street Zen cut Enliven Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday. JonesTrading raised their price target on Enliven Therapeutics from $45.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, June 29th. The Goldman Sachs Group lifted their price target on Enliven Therapeutics from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Stifel Nicolaus increased their price objective on Enliven Therapeutics from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Enliven Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $72.67.

Institutional Investors Weigh In On Enliven Therapeutics

A number of institutional investors have recently made changes to their positions in ELVN. BlackRock Inc. purchased a new position in Enliven Therapeutics in the 2nd quarter worth $221,255,000. Deutsche Bank AG purchased a new stake in Enliven Therapeutics during the second quarter valued at about $2,289,000. TimesSquare Capital Management LLC purchased a new stake in Enliven Therapeutics during the second quarter valued at about $13,263,000. Persistent Asset Partners Ltd bought a new position in shares of Enliven Therapeutics during the second quarter valued at about $479,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Enliven Therapeutics during the second quarter valued at about $6,032,000. Hedge funds and other institutional investors own 95.08% of the company’s stock.

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.