Enliven Therapeutics (NASDAQ:ELVN) Stock Price Up 5% - Here's What Happened

Key Points

• Enliven Therapeutics' shares rose by 5% during trading, reaching a last traded price of $21.28, although the volume of shares traded decreased significantly compared to average levels.
• Analyst ratings for Enliven Therapeutics are predominantly positive, with five analysts giving a Buy rating and a consensus price target of $41.20.
• The company recently reported quarterly earnings, beating estimates with an EPS of ($0.49), and analysts expect an annual EPS of ($1.95) for the current year.

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report) were up 5% during mid-day trading on Tuesday . The company traded as high as $21.23 and last traded at $21.28. Approximately 32,752 shares changed hands during trading, a decline of 91% from the average daily volume of 373,252 shares. The stock had previously closed at $20.27.

Analyst Upgrades and Downgrades

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

Enliven Therapeutics Trading Up 0.7%

The company has a market cap of $1.19 billion, a P/E ratio of -10.08 and a beta of 0.89. The business's fifty day moving average is $20.39 and its 200 day moving average is $19.75.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.49) earnings per share for the quarter, beating analysts' consensus estimates of ($0.53) by $0.04. As a group, research analysts expect that Enliven Therapeutics, Inc. will post -1.95 EPS for the current fiscal year.

Insider Activity at Enliven Therapeutics

In other news, CEO Samuel Kintz sold 12,500 shares of the business's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $22.52, for a total transaction of $281,500.00. Following the completion of the transaction, the chief executive officer directly owned 940,392 shares in the company, valued at $21,177,627.84. The trade was a 1.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph P. Lyssikatos sold 12,500 shares of Enliven Therapeutics stock in a transaction on Monday, July 21st. The stock was sold at an average price of $22.29, for a total transaction of $278,625.00. Following the sale, the insider directly owned 952,688 shares of the company's stock, valued at $21,235,415.52. This represents a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,234 shares of company stock worth $2,186,231. Corporate insiders own 25.90% of the company's stock.

Institutional Trading of Enliven Therapeutics

A number of hedge funds have recently made changes to their positions in ELVN. Polar Capital Holdings Plc lifted its stake in Enliven Therapeutics by 267.6% in the fourth quarter. Polar Capital Holdings Plc now owns 2,389,668 shares of the company's stock worth $53,768,000 after purchasing an additional 1,739,668 shares during the last quarter. TCG Crossover Management LLC purchased a new stake in Enliven Therapeutics during the second quarter valued at about $9,990,000. Duquesne Family Office LLC purchased a new stake in Enliven Therapeutics during the second quarter valued at about $9,288,000. Candriam S.C.A. purchased a new stake in Enliven Therapeutics during the second quarter valued at about $8,358,000. Finally, Franklin Resources Inc. boosted its position in Enliven Therapeutics by 2,029.3% during the second quarter. Franklin Resources Inc. now owns 430,240 shares of the company's stock valued at $8,631,000 after buying an additional 410,034 shares during the period. 95.08% of the stock is owned by institutional investors.

Enliven Therapeutics Company Profile

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.