Enliven Therapeutics, Inc. $ELVN is First Light Asset Management LLC’s 7th Largest Position

First Light Asset Management LLC grew its stake in Enliven Therapeutics, Inc. (NASDAQ:ELVN) by 574.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,360,750 shares of the company’s stock after acquiring an additional 1,158,883 shares during the quarter. Enliven Therapeutics accounts for 4.2% of First Light Asset Management LLC’s portfolio, making the stock its 7th biggest holding. First Light Asset Management LLC owned about 1.86% of Enliven Therapeutics worth $69,058,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of ELVN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 purchasing an additional 1,693 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Enliven Therapeutics by 61.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 211,752 shares of the company’s stock valued at $4,167,000 after purchasing an additional 80,506 shares during the last quarter. Jane Street Group LLC purchased a new stake in Enliven Therapeutics during the 1st quarter valued at about $578,000. Legal & General Group Plc increased its stake in Enliven Therapeutics by 52.2% during the 2nd quarter. Legal & General Group Plc now owns 32,225 shares of the company’s stock valued at $646,000 after purchasing an additional 11,058 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in 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 in the last quarter. 95.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Enliven Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. HC Wainwright raised their price target on shares of Enliven Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. JonesTrading boosted their price objective on shares of Enliven Therapeutics from $45.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Barclays initiated coverage on Enliven Therapeutics in a research report on Tuesday, August 18th. They issued an “overweight” rating and a $78.00 price objective on the stock. Finally, William Blair started coverage on Enliven Therapeutics in a research note on Tuesday, August 18th. They set an “outperform” rating on the stock. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Enliven Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $75.00.

Insider Activity

In related news, Director Mika K. Derynck sold 158,795 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $60.21, for a total transaction of $9,561,046.95. Following the completion of the sale, 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 ownership of the stock. 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 the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $58.58, for a total transaction of $352,534.44. Following the sale, the chief financial officer owned 40,036 shares of the company’s stock, valued at $2,345,308.88. This trade represents a 13.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 186,849 shares of company stock valued at $10,998,857 in the last quarter. 3.00% of the stock is currently owned by insiders.

Enliven Therapeutics Price Performance

ELVN stock opened at $57.45 on Thursday. Enliven Therapeutics, Inc. has a 1 year low of $14.78 and a 1 year high of $62.32. The company has a market cap of $4.21 billion, a P/E ratio of -34.40 and a beta of 0.30. The stock’s fifty day moving average price is $56.18 and its 200-day moving average price is $45.00.

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

Enliven Therapeutics 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.