Enliven Therapeutics (NASDAQ:ELVN) Hits New 52-Week High After Analyst Upgrade

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s share price hit a new 52-week high during trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $59.00 to $67.00. The Goldman Sachs Group currently has a buy rating on the stock. Enliven Therapeutics traded as high as $54.29 and last traded at $53.9850, with a volume of 303573 shares changing hands. The stock had previously closed at $51.67.

A number of other analysts have also issued reports on ELVN. Stifel Nicolaus boosted their price target on shares of Enliven Therapeutics from $60.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. JonesTrading lifted their price objective on shares of Enliven Therapeutics from $45.00 to $70.00 and gave the company a “buy” rating in a report on Monday, June 29th. Guggenheim began coverage on shares of Enliven Therapeutics in a report on Tuesday, May 12th. They issued a “buy” rating and a $80.00 price objective for the company. Mizuho increased their target price on shares of Enliven Therapeutics from $45.00 to $62.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Enliven Therapeutics in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

Insider Activity at Enliven Therapeutics

In other Enliven Therapeutics news, CFO Benjamin Hohl sold 6,018 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $43.80, for a total transaction of $263,588.40. Following the completion of the transaction, the chief financial officer owned 51,000 shares in the company, valued at $2,233,800. The trade was a 10.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lori Anne Kunkel sold 10,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $34.54, for a total transaction of $345,400.00. Following the completion of the sale, the director directly owned 51,884 shares in the company, valued at approximately $1,792,073.36. This represents a 16.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 26,018 shares of company stock valued at $1,113,888 in the last quarter. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of Enliven Therapeutics

A number of institutional investors have recently bought and sold shares of ELVN. KBC Group NV acquired a new position in shares of Enliven Therapeutics during the 1st quarter worth about $38,000. FNY Investment Advisers LLC acquired a new position in shares of Enliven Therapeutics in the 2nd quarter valued at $126,000. Mirae Asset Global Investments Co. Ltd. increased its stake 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 purchasing an additional 594 shares during the period. BNP Paribas Financial Markets increased its position 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 acquiring an additional 930 shares during the period. Finally, Quantbot Technologies LP increased its position in Enliven Therapeutics by 47.1% in 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 during the period. 95.08% of the stock is owned by hedge funds and other institutional investors.

Enliven Therapeutics Trading Down 2.7%

The company has a 50 day simple moving average of $45.06 and a 200 day simple moving average of $36.90. The stock has a market capitalization of $3.22 billion, a PE ratio of -31.65 and a beta of 0.24.

Enliven Therapeutics (NASDAQ:ELVN) last announced its earnings results on Thursday, May 7th. The company reported ($0.38) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.06. On average, equities research analysts predict that Enliven Therapeutics, Inc. will post -1.57 EPS 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.