Enliven Therapeutics (NASDAQ:ELVN) Hits New 12-Month High on Analyst Upgrade

Enliven Therapeutics, Inc. (NASDAQ:ELVN) shares reached a new 52-week high on Thursday after Mizuho raised their price target on the stock from $41.00 to $45.00. Mizuho currently has an outperform rating on the stock. Enliven Therapeutics traded as high as $36.72 and last traded at $35.53, with a volume of 6419955 shares traded. The stock had previously closed at $31.15.

ELVN has been the subject of several other reports. Wall Street Zen downgraded shares of Enliven Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enliven Therapeutics in a report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.80.

Insiders Place Their Bets

In other news, CFO Benjamin Hohl sold 10,000 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $29.58, for a total transaction of $295,800.00. Following the completion of the transaction, the chief financial officer owned 51,000 shares of the company’s stock, valued at approximately $1,508,580. The trade was a 16.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Anish Patel sold 48,300 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $27.99, for a total transaction of $1,351,917.00. Following the completion of the transaction, the chief operating officer owned 215,011 shares in the company, valued at approximately $6,018,157.89. This trade represents a 18.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 232,180 shares of company stock valued at $6,217,033 over the last 90 days. 25.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Enliven Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of ELVN. Commodore Capital LP increased its holdings in shares of Enliven Therapeutics by 0.4% in the 2nd quarter. Commodore Capital LP now owns 4,692,809 shares of the company’s stock worth $94,138,000 after buying an additional 17,809 shares during the last quarter. Vestal Point Capital LP grew its position in Enliven Therapeutics by 230.2% in the fourth quarter. Vestal Point Capital LP now owns 3,830,000 shares of the company’s stock worth $58,982,000 after acquiring an additional 2,670,000 shares in the last quarter. Polar Capital Holdings Plc grew its position in Enliven Therapeutics by 13.5% in the fourth quarter. Polar Capital Holdings Plc now owns 3,513,680 shares of the company’s stock worth $54,111,000 after acquiring an additional 418,673 shares in the last quarter. Vanguard Group Inc. increased its stake in Enliven Therapeutics by 5.9% in the third quarter. Vanguard Group Inc. now owns 2,553,014 shares of the company’s stock valued at $52,260,000 after acquiring an additional 142,378 shares during the last quarter. Finally, State Street Corp increased its stake in Enliven Therapeutics by 9.1% in the fourth quarter. State Street Corp now owns 1,052,862 shares of the company’s stock valued at $16,214,000 after acquiring an additional 87,725 shares during the last quarter. Hedge funds and other institutional investors own 95.08% of the company’s stock.

Enliven Therapeutics Stock Up 14.1%

The stock has a 50-day simple moving average of $28.04 and a two-hundred day simple moving average of $22.72. The firm has a market cap of $2.12 billion, a PE ratio of -19.10 and a beta of 0.33.

Enliven Therapeutics (NASDAQ:ELVN) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.06). Research analysts expect 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.