Enliven Therapeutics (NASDAQ:ELVN) Trading 7.2% Higher - Time to Buy?

Key Points

• Enliven Therapeutics' stock has increased by 7.2%, trading at $19.92 with a market cap of $1.19 billion.
• Analysts have a consensus "Buy" rating for the stock, with target prices ranging from $37.00 to $52.00.
• Insider sales have occurred recently, including the CEO selling 2,800 shares and the COO selling 6,667 shares, reducing their holdings slightly.

Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report)'s stock price traded up 7.2% during trading on Friday . The stock traded as high as $19.83 and last traded at $19.92. 180,214 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 398,273 shares. The stock had previously closed at $18.57.

Wall Street Analysts Forecast Growth

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

Enliven Therapeutics Stock Up 7.8%

The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -10.01 and a beta of 0.89. The business's 50 day simple moving average is $19.86 and its 200 day simple moving average is $19.62.

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

Insider Activity at Enliven Therapeutics

In other news, CEO Samuel Kintz sold 2,800 shares of the firm's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $20.03, for a total transaction of $56,084.00. Following the completion of the sale, the chief executive officer owned 919,092 shares in the company, valued at approximately $18,409,412.76. This trade represents a 0.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Anish Patel sold 6,667 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $20.24, for a total transaction of $134,940.08. Following the sale, the chief operating officer owned 283,308 shares of the company's stock, 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. In the last quarter, insiders have sold 93,284 shares of company stock worth $1,910,415. 25.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Enliven Therapeutics

Hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. bought a new position in Enliven Therapeutics during the fourth quarter worth about $789,000. Goldman Sachs Group Inc. increased its position in Enliven Therapeutics by 61.3% during the first quarter. Goldman Sachs Group Inc. now owns 211,752 shares of the company's stock worth $4,167,000 after acquiring an additional 80,506 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Enliven Therapeutics by 67.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,714 shares of the company's stock worth $984,000 after acquiring an additional 17,546 shares during the period. Rhumbline Advisers increased its position in Enliven Therapeutics by 4.9% during the first quarter. Rhumbline Advisers now owns 52,502 shares of the company's stock worth $1,033,000 after acquiring an additional 2,466 shares during the period. Finally, Millennium Management LLC increased its position in Enliven Therapeutics by 108.6% during the fourth quarter. Millennium Management LLC now owns 50,804 shares of the company's stock worth $1,143,000 after acquiring an additional 26,449 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.

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