Enliven Therapeutics (NASDAQ:ELVN) Shares Up 7.6% – Here’s What Happened

Enliven Therapeutics, Inc. (NASDAQ:ELVN) was up 7.6% during trading on Thursday . The stock traded as high as $24.45 and last traded at $24.20. Approximately 91,031 shares traded hands during trading, a decline of 64% from the average daily volume of 252,244 shares. The stock had previously closed at $22.50.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ELVN shares. BTIG Research began coverage on shares of Enliven Therapeutics in a research note on Friday, December 13th. They issued a “buy” rating and a $42.00 target price for the company. Robert W. Baird raised their price objective on Enliven Therapeutics from $32.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Finally, HC Wainwright restated a “buy” rating and set a $37.00 target price on shares of Enliven Therapeutics in a research note on Tuesday, October 1st. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Enliven Therapeutics has an average rating of “Buy” and a consensus price target of $38.25.

Enliven Therapeutics Stock Performance

The company has a 50 day simple moving average of $25.01 and a two-hundred day simple moving average of $24.30. The firm has a market cap of $1.19 billion, a PE ratio of -12.85 and a beta of 1.02.

Insider Activity at Enliven Therapeutics

In related news, insider Joseph P. Lyssikatos sold 2,707 shares of Enliven Therapeutics stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $27.61, for a total transaction of $74,740.27. Following the completion of the transaction, the insider now directly owns 1,067,180 shares in the company, valued at approximately $29,464,839.80. This trade represents a 0.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Samuel Kintz sold 924 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $30.00, for a total transaction of $27,720.00. Following the completion of the transaction, the chief executive officer now owns 1,002,892 shares of the company’s stock, valued at approximately $30,086,760. This represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,853 shares of company stock worth $2,577,630 over the last quarter. Insiders own 29.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Barclays PLC raised its position in shares of Enliven Therapeutics by 295.8% during the 3rd quarter. Barclays PLC now owns 56,217 shares of the company’s stock worth $1,435,000 after purchasing an additional 42,012 shares during the last quarter. First Turn Management LLC raised its holdings in shares of Enliven Therapeutics by 29.5% during the third quarter. First Turn Management LLC now owns 535,092 shares of the company’s stock valued at $13,666,000 after acquiring an additional 121,849 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Enliven Therapeutics by 9.9% in the third quarter. Geode Capital Management LLC now owns 750,208 shares of the company’s stock valued at $19,164,000 after acquiring an additional 67,813 shares in the last quarter. Ally Bridge Group NY LLC acquired a new stake in shares of Enliven Therapeutics in the third quarter worth approximately $5,998,000. Finally, Patient Square Capital LP purchased a new stake in shares of Enliven Therapeutics during the third quarter worth approximately $2,313,000. 95.08% of the stock is owned by institutional investors and hedge funds.

About Enliven Therapeutics

Enliven Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of small molecule inhibitors to help patients with cancer. The company’s lead product candidates comprise ELVN-001, which is being evaluated in a Phase 1 clinical trial in adults with chronic myeloid leukemia; and ELVN-002, a Phase 1 clinical trial in adults with solid tumors with HER2 alterations.