Enliven Therapeutics (NASDAQ:ELVN) Shares Gap Up After Analyst Upgrade

Enliven Therapeutics, Inc. (NASDAQ:ELVN) shares gapped up before the market opened on Wednesday after Mizuho raised their price target on the stock from $41.00 to $45.00. The stock had previously closed at $31.15, but opened at $33.76. Mizuho currently has an outperform rating on the stock. Enliven Therapeutics shares last traded at $35.7160, with a volume of 2,626,280 shares.

A number of other analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Enliven Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Enliven Therapeutics in a research note on Wednesday, January 21st. Five 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $41.80.

Insider Buying and Selling

In other news, Director Richard A. Heyman sold 9,635 shares of the company’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $25.03, for a total transaction of $241,164.05. Following the completion of the sale, the director owned 25,545 shares in the company, valued at $639,391.35. This represents a 27.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Anish Patel sold 48,300 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $27.99, for a total value of $1,351,917.00. Following the sale, the chief operating officer directly owned 215,011 shares of the company’s stock, valued at approximately $6,018,157.89. This represents a 18.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 232,180 shares of company stock worth $6,217,033. 25.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ELVN. Mirae Asset Global Investments Co. Ltd. raised its holdings 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 holdings in Enliven Therapeutics by 33.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company’s stock valued at $75,000 after purchasing an additional 930 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Enliven Therapeutics in the 4th quarter valued at approximately $83,000. Quantbot Technologies LP increased its position in Enliven Therapeutics by 47.1% during the 2nd quarter. Quantbot Technologies LP now owns 4,477 shares of the company’s stock worth $90,000 after purchasing an additional 1,434 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Enliven Therapeutics during the 4th quarter worth approximately $95,000. 95.08% of the stock is currently owned by institutional investors and hedge funds.

Enliven Therapeutics Trading Up 13.3%

The firm has a market capitalization of $2.11 billion, a PE ratio of -18.90 and a beta of 0.33. The business has a 50 day moving average price of $27.85 and a 200-day moving average price of $22.63.

Enliven Therapeutics (NASDAQ:ELVN) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). On average, equities research analysts forecast that Enliven Therapeutics, Inc. will post -1.95 earnings per share for the current 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.