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

Key Points

• Enliven Therapeutics hit a new 52-week high after Goldman Sachs raised its price target to $67 from $59 and reiterated a buy rating. The stock traded as high as $54.29, up 4.5% on the day.
• Other analysts have also turned more bullish, with several firms lifting targets and maintaining buy-style ratings. MarketBeat says the stock now carries an average Moderate Buy rating with a $70.50 average price target.
• Recent insider activity showed sales by CFO Benjamin Hohl and Director Lori Anne Kunkel under pre-arranged trading plans. The company also reported a smaller-than-expected quarterly loss, beating EPS estimates by $0.06.

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report) reached a new 52-week high during mid-day 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 research analysts have also recently issued reports on the company. JonesTrading lifted their price objective on Enliven Therapeutics from $45.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Mizuho raised their price target on Enliven Therapeutics from $45.00 to $62.00 and gave the company an "outperform" rating in a report on Tuesday, June 2nd. Guggenheim initiated coverage on Enliven Therapeutics in a research report on Tuesday, May 12th. They issued a "buy" rating and a $80.00 price target for the company. HC Wainwright upped their price target on shares of Enliven Therapeutics from $56.00 to $64.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Finally, Stifel Nicolaus increased their price objective on shares of Enliven Therapeutics from $60.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. One 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 stock. Based on data from MarketBeat.com, Enliven Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $70.50.

Insider Transactions at Enliven Therapeutics

In related news, CFO Benjamin Hohl sold 6,018 shares of the 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 transaction, the chief financial officer owned 51,000 shares in the company, valued at $2,233,800. This represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lori Anne Kunkel sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $34.54, for a total transaction of $345,400.00. Following the completion of the sale, the director owned 51,884 shares in the company, valued at $1,792,073.36. This represents a 16.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 26,018 shares of company stock valued at $1,113,888. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Enliven Therapeutics

A number of institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in Enliven Therapeutics by 25.9% during the 4th 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 during the period. Invesco Ltd. raised its stake in shares of Enliven Therapeutics by 4.3% in the second quarter. Invesco Ltd. now owns 21,957 shares of the company's stock valued at $440,000 after acquiring an additional 913 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Enliven Therapeutics by 33.3% in the second 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. KBC Group NV bought a new stake in shares of Enliven Therapeutics in the 1st quarter worth about $38,000. Finally, Swiss National Bank lifted its holdings 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 worth $990,000 after acquiring an additional 1,100 shares during the last quarter. 95.08% of the stock is owned by institutional investors.

Enliven Therapeutics Trading Up 4.5%

The business's 50 day moving average is $44.64 and its 200 day moving average is $36.36. The stock has a market capitalization of $3.29 billion, a PE ratio of -32.33 and a beta of 0.24.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.06. As a group, analysts anticipate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.