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

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s share price gapped up prior to trading 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 changing hands.

Several other equities analysts also recently commented on ELVN. Wall Street Zen downgraded Enliven Therapeutics from a “hold” rating to a “sell” rating in a research 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 research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Enliven Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $41.80.

Insider Activity

In other Enliven Therapeutics news, Director Richard A. Heyman sold 1,230 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $26.18, for a total value of $32,201.40. Following the transaction, the director directly owned 22,647 shares of the company’s stock, valued at $592,898.46. This trade represents a 5.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Anish Patel sold 48,300 shares of the 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 sale, the chief operating officer owned 215,011 shares in the company, valued at $6,018,157.89. This represents a 18.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 232,180 shares of company stock valued at $6,217,033. Corporate insiders own 25.90% of the company’s stock.

Hedge Funds Weigh In On Enliven Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 valued at $44,000 after buying an additional 594 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Enliven Therapeutics by 4.3% during the second quarter. Invesco Ltd. now owns 21,957 shares of the company’s stock worth $440,000 after buying an additional 913 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Enliven Therapeutics by 33.3% during 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 in the last quarter. Swiss National Bank lifted its stake in shares of Enliven Therapeutics by 1.7% in the 4th quarter. Swiss National Bank now owns 64,273 shares of the company’s stock valued at $990,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in shares of 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 acquiring an additional 1,434 shares in the last quarter. Institutional investors own 95.08% of the company’s stock.

Enliven Therapeutics Stock Performance

The company has a market cap of $2.12 billion, a price-to-earnings ratio of -19.10 and a beta of 0.33. The company has a fifty day moving average of $28.04 and a two-hundred day moving average of $22.72.

Enliven Therapeutics (NASDAQ:ELVN) last issued its earnings results 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). Equities analysts expect that Enliven Therapeutics, Inc. will post -1.95 EPS for the current fiscal year.

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.