Enliven Therapeutics (NASDAQ:ELVN) Shares Gap Up – Still a Buy?

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) gapped up before the market opened on Thursday . The stock had previously closed at $37.00, but opened at $45.01. Enliven Therapeutics shares last traded at $41.8640, with a volume of 1,466,401 shares trading hands.

Analyst Ratings Changes

ELVN has been the topic of a number of research analyst reports. Stifel Nicolaus initiated coverage on Enliven Therapeutics in a report on Tuesday. They set a “buy” rating and a $60.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Enliven Therapeutics in a report on Monday, April 20th. Guggenheim started coverage on Enliven Therapeutics in a report on Tuesday, May 12th. They set a “buy” rating and a $80.00 price target on the stock. Mizuho boosted their target price on Enliven Therapeutics from $45.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Finally, The Goldman Sachs Group boosted their target price on Enliven Therapeutics from $41.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Enliven Therapeutics Price Performance

The business has a 50 day simple moving average of $41.28 and a 200 day simple moving average of $30.48. The stock has a market cap of $2.52 billion, a PE ratio of -24.75 and a beta of 0.29.

Enliven Therapeutics (NASDAQ:ELVN) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.06. As a group, sell-side analysts forecast that Enliven Therapeutics, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Enliven Therapeutics

In other Enliven Therapeutics news, Director Lori Anne Kunkel sold 10,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $34.54, for a total value of $345,400.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of Enliven Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. KBC Group NV acquired a new stake in shares of Enliven Therapeutics in the first quarter worth about $38,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Enliven Therapeutics by 25.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,884 shares of the company’s stock worth $44,000 after buying an additional 594 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Enliven Therapeutics by 33.3% in the second quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company’s stock worth $75,000 after buying an additional 930 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of Enliven Therapeutics by 47.1% in the second quarter. Quantbot Technologies LP now owns 4,477 shares of the company’s stock worth $90,000 after buying an additional 1,434 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in shares of Enliven Therapeutics in the third quarter worth about $96,000. Institutional investors and hedge funds 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.