Enliven Therapeutics (NASDAQ:ELVN) Shares Up 7.1% - Here's Why

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report) shot up 7.1% during mid-day trading on Tuesday . The stock traded as high as $21.94 and last traded at $21.78. 410,963 shares changed hands during mid-day trading, an increase of 52% from the average session volume of 270,821 shares. The stock had previously closed at $20.34.

Analyst Upgrades and Downgrades

Several analysts recently commented on ELVN shares. HC Wainwright raised their target price on Enliven Therapeutics from $39.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Jones Trading decreased their price target on Enliven Therapeutics from $36.00 to $27.00 and set a "buy" rating for the company in a report on Friday, May 16th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $37.25.

Enliven Therapeutics Stock Down 9.7%

The business has a 50-day simple moving average of $18.13 and a 200-day simple moving average of $20.73. The company has a market cap of $961.75 million, a PE ratio of -10.32 and a beta of 0.79.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.06). On average, research analysts forecast that Enliven Therapeutics, Inc. will post -1.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Joseph P. Lyssikatos sold 12,500 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $20.61, for a total value of $257,625.00. Following the completion of the sale, the insider now directly owns 1,002,688 shares in the company, valued at $20,665,399.68. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Benjamin Hohl sold 3,250 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $16.18, for a total transaction of $52,585.00. Following the sale, the chief financial officer now directly owns 23,000 shares of the company's stock, valued at approximately $372,140. This represents a 12.38% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 94,444 shares of company stock worth $1,801,057. Corporate insiders own 25.90% of the company's stock.

Institutional Trading of Enliven Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of ELVN. Tower Research Capital LLC TRC increased its position in Enliven Therapeutics by 230.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,598 shares of the company's stock worth $36,000 after purchasing an additional 1,114 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Enliven Therapeutics by 3,058.1% in the 1st quarter. GAMMA Investing LLC now owns 2,716 shares of the company's stock valued at $53,000 after buying an additional 2,630 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Enliven Therapeutics during the 1st quarter worth approximately $60,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Enliven Therapeutics during the 4th quarter valued at approximately $97,000. Finally, BNP Paribas Financial Markets acquired a new position in Enliven Therapeutics in the fourth quarter valued at approximately $112,000. 95.08% of the stock is owned by institutional investors and hedge funds.

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.