Enliven Therapeutics (NASDAQ:ELVN) Trading 5.3% Higher - What's Next?

Key Points

• Shares of Enliven Therapeutics (NASDAQ:ELVN) rose by 5.3% to a last traded price of $19.40, despite a significant decline in trading volume.
• Several analysts have upgraded their price targets for Enliven Therapeutics, with HC Wainwright setting a new target of $48.00 and Robert W. Baird targeting $52.00.
• The company reported a loss of ($0.49) earnings per share, which was better than analysts' expectations of ($0.53) for the quarter.

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report) traded up 5.3% on Wednesday . The company traded as high as $19.34 and last traded at $19.40. 16,769 shares traded hands during trading, a decline of 96% from the average session volume of 380,418 shares. The stock had previously closed at $18.43.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ELVN. The Goldman Sachs Group began coverage on Enliven Therapeutics in a research report on Monday, June 16th. They set a "buy" rating and a $37.00 target price for the company. HC Wainwright increased their price target on Enliven Therapeutics from $40.00 to $48.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, Robert W. Baird increased their price target on Enliven Therapeutics from $40.00 to $52.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $41.20.

Enliven Therapeutics Price Performance

The company has a market cap of $1.12 billion, a P/E ratio of -9.48 and a beta of 0.89. The company has a 50 day moving average of $20.11 and a 200-day moving average of $19.66.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.53) by $0.04. Research analysts anticipate that Enliven Therapeutics, Inc. will post -1.95 EPS for the current year.

Insider Buying and Selling

In related news, CEO Samuel Kintz sold 12,500 shares of the business's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $22.52, for a total transaction of $281,500.00. Following the transaction, the chief executive officer owned 940,392 shares in the company, valued at $21,177,627.84. The trade was a 1.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Anish Patel sold 6,667 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $20.24, for a total value of $134,940.08. Following the transaction, the chief operating officer owned 283,308 shares in the company, valued at approximately $5,734,153.92. This represents a 2.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,234 shares of company stock worth $1,756,514 in the last ninety days. Corporate insiders own 25.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in 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 acquiring an additional 2,630 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Enliven Therapeutics in the 1st quarter worth $60,000. BNP Paribas Financial Markets increased its stake in shares of Enliven Therapeutics by 33.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company's stock worth $75,000 after purchasing an additional 930 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Enliven Therapeutics by 194.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,286 shares of the company's stock worth $106,000 after purchasing an additional 3,490 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in shares of Enliven Therapeutics by 58.1% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 6,800 shares of the company's stock valued at $136,000 after purchasing an additional 2,500 shares during the last quarter. 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.