Enliven Therapeutics (NASDAQ:ELVN) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• Enliven Therapeutics reported quarterly earnings of ($0.49) per share, surpassing analysts' expectations of ($0.54) by $0.05.
• The company's stock traded up by $1.10, reaching $19.99, with a market capitalization of approximately $980.89 million.
• Notable insider activity included the sale of 12,500 shares by Joseph P. Lyssikatos, representing a decrease of 1.30% in their ownership position.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) issued its earnings results on Wednesday. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.04, Zacks reports.

Enliven Therapeutics Price Performance

Enliven Therapeutics stock opened at $19.99 on Thursday. The stock has a fifty day moving average price of $20.72 and a two-hundred day moving average price of $19.94. Enliven Therapeutics has a 52-week low of $13.30 and a 52-week high of $30.03. The firm has a market capitalization of $980.91 million, a P/E ratio of -10.41 and a beta of 0.93.

Insiders Place Their Bets

In other Enliven Therapeutics news, insider Joseph P. Lyssikatos sold 12,500 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $21.40, for a total transaction of $267,500.00. Following the completion of the transaction, the insider directly owned 965,188 shares in the company, valued at $20,655,023.20. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Anish Patel sold 6,667 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $20.34, for a total value of $135,606.78. Following the transaction, the chief operating officer owned 303,309 shares of the company's stock, valued at $6,169,305.06. This represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 105,751 shares of company stock worth $2,168,325 over the last three months. 25.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Enliven Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its holdings in Enliven Therapeutics by 2,886.9% during the 2nd quarter. Marshall Wace LLP now owns 333,333 shares of the company's stock worth $6,687,000 after acquiring an additional 322,173 shares during the last quarter. Invesco Ltd. increased its position in Enliven Therapeutics by 4.3% in the second quarter. Invesco Ltd. now owns 21,957 shares of the company's stock worth $440,000 after purchasing an additional 913 shares during the period. Quantbot Technologies LP increased its position in 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 purchasing an additional 1,434 shares during the period. Legal & General Group Plc increased its position in Enliven Therapeutics by 52.2% in the second quarter. Legal & General Group Plc now owns 32,225 shares of the company's stock worth $646,000 after purchasing an additional 11,058 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Enliven Therapeutics in the first quarter worth about $578,000. Institutional investors own 95.08% of the company's stock.

Analysts Set New Price Targets

ELVN has been the subject of several research reports. HC Wainwright raised their target price on Enliven Therapeutics from $40.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. The Goldman Sachs Group initiated coverage on Enliven Therapeutics in a research report on Monday, June 16th. They issued a "buy" rating and a $37.00 target price for the company. Jones Trading reduced their target price on Enliven Therapeutics from $36.00 to $27.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Finally, Robert W. Baird raised their target price on Enliven Therapeutics from $40.00 to $52.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Enliven Therapeutics presently has an average rating of "Buy" and a consensus target price of $41.20.

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.