Enliven Therapeutics (NASDAQ:ELVN) Trading 8.4% Higher - Here's What Happened

Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report)'s stock price was up 8.4% during trading on Thursday . The stock traded as high as $23.44 and last traded at $23.27. Approximately 556,714 shares were traded during trading, an increase of 83% from the average daily volume of 304,555 shares. The stock had previously closed at $21.46.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ELVN shares. HC Wainwright boosted their price objective 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. Robert W. Baird boosted their price objective 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. Jones Trading lowered their price objective on shares of 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, The Goldman Sachs Group started coverage on shares of Enliven Therapeutics in a research report on Monday, June 16th. They issued a "buy" rating and a $37.00 price objective for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $41.20.

Enliven Therapeutics Price Performance

The firm has a market capitalization of $1.07 billion, a PE ratio of -11.39 and a beta of 0.83. The company's fifty day simple moving average is $20.16 and its 200-day simple moving average is $20.23.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.57) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.06). Analysts forecast that Enliven Therapeutics, Inc. will post -1.95 earnings per share for the current year.

Insider Activity at Enliven Therapeutics

In other news, COO Anish Patel sold 6,667 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $19.79, for a total transaction of $131,939.93. Following the transaction, the chief operating officer directly owned 296,642 shares in the company, valued at $5,870,545.18. This represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joseph P. Lyssikatos sold 12,500 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $21.40, for a total transaction of $267,500.00. Following the transaction, the insider owned 965,188 shares in the company, valued at approximately $20,655,023.20. The trade was a 1.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 103,611 shares of company stock worth $2,092,926 over the last 90 days. 25.90% of the stock is owned by corporate insiders.

Institutional Trading of Enliven Therapeutics

Hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake 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 valued at $36,000 after purchasing an additional 1,114 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Enliven Therapeutics by 3,058.1% during the first quarter. GAMMA Investing LLC now owns 2,716 shares of the company's stock valued at $53,000 after acquiring an additional 2,630 shares during the period. Quantbot Technologies LP acquired a new position in shares of Enliven Therapeutics during the first quarter valued at $60,000. KLP Kapitalforvaltning AS acquired a new position in shares of Enliven Therapeutics during the fourth quarter valued at $97,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Enliven Therapeutics during the fourth quarter valued at $112,000. Hedge funds and other institutional investors own 95.08% of the company's stock.

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.