Enliven Therapeutics (NASDAQ:ELVN) Stock Price Up 5.4% - Here's What Happened

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report) were up 5.4% during trading on Wednesday . The stock traded as high as $21.21 and last traded at $21.00. Approximately 46,633 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 296,967 shares. The stock had previously closed at $19.93.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Jones Trading lowered their price target 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. The Goldman Sachs Group assumed 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. Robert W. Baird boosted 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. Finally, HC Wainwright boosted 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. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $41.20.

Enliven Therapeutics Price Performance

The firm's 50 day moving average is $19.77 and its 200 day moving average is $20.28. The company has a market cap of $1.10 billion, a PE ratio of -11.69 and a beta of 0.83.

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

Insiders Place Their Bets

In other Enliven Therapeutics news, insider Joseph P. Lyssikatos sold 12,500 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $21.40, for a total value of $267,500.00. Following the completion of the transaction, the insider directly owned 965,188 shares in the company, valued at approximately $20,655,023.20. This represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Samuel Kintz sold 12,500 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $22.18, for a total transaction of $277,250.00. Following the completion of the transaction, the chief executive officer owned 952,892 shares of the company's stock, valued at $21,135,144.56. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,111 shares of company stock worth $1,951,216. 25.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Enliven Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Invesco Ltd. grew its position in Enliven Therapeutics by 3.5% during the 4th quarter. Invesco Ltd. now owns 15,072 shares of the company's stock valued at $339,000 after purchasing an additional 508 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Enliven Therapeutics by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,036 shares of the company's stock valued at $451,000 after purchasing an additional 718 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Enliven Therapeutics by 230.2% during the 4th 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. MetLife Investment Management LLC grew its position in Enliven Therapeutics by 6.3% during the 4th quarter. MetLife Investment Management LLC now owns 21,746 shares of the company's stock valued at $489,000 after purchasing an additional 1,285 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in Enliven Therapeutics by 10.2% during the 4th quarter. California State Teachers Retirement System now owns 20,914 shares of the company's stock valued at $471,000 after purchasing an additional 1,940 shares during the last quarter. 95.08% of the stock is owned by hedge funds and other institutional investors.

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.