Enliven Therapeutics (NASDAQ:ELVN) Trading 8.1% Higher - Time to Buy?

Key Points

• Enliven Therapeutics shares rose by 8.1% to $21.73, despite a decrease in trading volume compared to its average session.
• Brokerages have mixed views on the stock, with HC Wainwright upgrading its price target to $48.00 while Weiss Ratings maintained a "sell" rating.
• Insider transactions reveal significant sales, with COO Anish Patel and another insider offloading shares worth over $413,000 combined in recent months.

Enliven Therapeutics, Inc. (NASDAQ:ELVN - Get Free Report) shares traded up 8.1% during mid-day trading on Wednesday . The company traded as high as $21.75 and last traded at $21.73. 514,630 shares traded hands during trading, a decline of 8% from the average session volume of 559,113 shares. The stock had previously closed at $20.10.

Analyst Ratings Changes

A number of brokerages recently weighed in on ELVN. HC Wainwright increased their price target on shares of Enliven Therapeutics from $40.00 to $48.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Enliven Therapeutics in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $41.20.

Enliven Therapeutics Trading Up 8.1%

The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -10.87 and a beta of 0.85. The firm's 50 day simple moving average is $19.85 and its 200-day simple moving average is $19.56.

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

Insider Transactions at Enliven Therapeutics

In other news, COO Anish Patel sold 6,667 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $20.24, for a total value of $134,940.08. Following the completion of the sale, the chief operating officer directly owned 283,308 shares of the company's stock, valued at $5,734,153.92. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Joseph P. Lyssikatos sold 12,500 shares of the company's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $22.29, for a total value of $278,625.00. Following the transaction, the insider directly owned 952,688 shares in the company, valued at $21,235,415.52. This represents a 1.30% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 90,734 shares of company stock valued at $1,829,844. Corporate insiders own 25.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its holdings in Enliven Therapeutics by 194.3% in the second quarter. Tower Research Capital LLC TRC now owns 5,286 shares of the company's stock valued at $106,000 after buying an additional 3,490 shares in the last quarter. Duquesne Family Office LLC purchased a new position in Enliven Therapeutics in the 2nd quarter valued at approximately $9,288,000. BNP Paribas Financial Markets raised its holdings in Enliven Therapeutics by 33.3% during the second quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company's stock worth $75,000 after purchasing an additional 930 shares during the last quarter. Bank of America Corp DE boosted its position in Enliven Therapeutics by 20.0% during the second quarter. Bank of America Corp DE now owns 24,508 shares of the company's stock worth $492,000 after purchasing an additional 4,078 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Enliven Therapeutics by 150.4% during the second quarter. Ameriprise Financial Inc. now owns 59,244 shares of the company's stock worth $1,188,000 after purchasing an additional 35,582 shares in the last quarter. 95.08% of the stock is currently 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.

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