Enliven Therapeutics (NASDAQ:ELVN) Shares Up 7.6% – Here’s What Happened

Enliven Therapeutics, Inc. (NASDAQ:ELVN) shot up 7.6% on Thursday . The company traded as high as $24.45 and last traded at $24.20. 91,031 shares were traded during mid-day trading, a decline of 64% from the average session volume of 252,244 shares. The stock had previously closed at $22.50.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ELVN. HC Wainwright reissued a “buy” rating and set a $37.00 target price on shares of Enliven Therapeutics in a research report on Tuesday, October 1st. BTIG Research assumed coverage on Enliven Therapeutics in a report on Friday, December 13th. They issued a “buy” rating and a $42.00 price target for the company. Finally, Robert W. Baird upped their target price on Enliven Therapeutics from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $38.25.

Enliven Therapeutics Trading Up 4.9 %

The company has a market capitalization of $1.15 billion, a P/E ratio of -12.42 and a beta of 1.02. The stock’s 50-day moving average price is $25.20 and its 200-day moving average price is $24.28.

Insider Activity

In other Enliven Therapeutics news, CEO Samuel Kintz sold 12,206 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $27.51, for a total transaction of $335,787.06. Following the completion of the transaction, the chief executive officer now directly owns 1,036,523 shares of the company’s stock, valued at approximately $28,514,747.73. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph P. Lyssikatos sold 847 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.00, for a total value of $25,410.00. Following the completion of the sale, the insider now directly owns 1,015,188 shares in the company, valued at $30,455,640. This represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,624 shares of company stock valued at $3,479,160. 29.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enliven Therapeutics

Several hedge funds have recently made changes to their positions in the business. Quest Partners LLC raised its stake in Enliven Therapeutics by 87.3% during the 2nd quarter. Quest Partners LLC now owns 1,592 shares of the company’s stock valued at $37,000 after purchasing an additional 742 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Enliven Therapeutics by 64.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 9,085 shares of the company’s stock worth $232,000 after acquiring an additional 3,559 shares during the period. SG Americas Securities LLC purchased a new position in Enliven Therapeutics during the 3rd quarter valued at about $256,000. Verition Fund Management LLC acquired a new position in shares of Enliven Therapeutics in the 3rd quarter valued at about $271,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Enliven Therapeutics during the second quarter worth approximately $322,000. Institutional investors and hedge funds own 95.08% of the company’s stock.

About Enliven Therapeutics

Enliven Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of small molecule inhibitors to help patients with cancer. The company’s lead product candidates comprise ELVN-001, which is being evaluated in a Phase 1 clinical trial in adults with chronic myeloid leukemia; and ELVN-002, a Phase 1 clinical trial in adults with solid tumors with HER2 alterations.