BIT Capital GmbH Invests $382,000 in Enliven Therapeutics, Inc. (NASDAQ:ELVN)

Key Points

• BIT Capital GmbH purchased 19,386 shares of Enliven Therapeutics, valued at approximately $382,000, indicating increased institutional interest in the company.
• Several analysts raised their price targets for Enliven Therapeutics, with Robert W. Baird increasing their target from $40.00 to $52.00, reflecting positive sentiment around the stock.
• Insider selling activity has occurred, with COO Anish Patel and CEO Samuel Kintz selling shares, although insiders still hold 25.90% of the company's stock.

BIT Capital GmbH bought a new position in Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 19,386 shares of the company's stock, valued at approximately $382,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ELVN. Tower Research Capital LLC TRC boosted its stake in Enliven Therapeutics by 230.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,598 shares of the company's stock worth $36,000 after purchasing an additional 1,114 shares during the period. GAMMA Investing LLC boosted its stake in Enliven Therapeutics by 3,058.1% in the 1st quarter. GAMMA Investing LLC now owns 2,716 shares of the company's stock worth $53,000 after purchasing an additional 2,630 shares during the period. KLP Kapitalforvaltning AS bought a new position in Enliven Therapeutics in the 4th quarter worth approximately $97,000. BNP Paribas Financial Markets bought a new position in Enliven Therapeutics in the 4th quarter worth approximately $112,000. Finally, ExodusPoint Capital Management LP bought a new position in Enliven Therapeutics in the 4th quarter worth approximately $200,000. 95.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Enliven Therapeutics news, CFO Benjamin Hohl sold 3,250 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $20.46, for a total value of $66,495.00. Following the sale, the chief financial officer owned 23,000 shares in the company, valued at $470,580. This trade represents a 12.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Samuel Kintz sold 12,500 shares of the stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $22.52, for a total value of $281,500.00. Following the completion of the sale, the chief executive officer owned 940,392 shares in the company, valued at approximately $21,177,627.84. The trade was a 1.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 105,751 shares of company stock valued at $2,169,325 in the last three months. Corporate insiders own 25.90% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on ELVN. Robert W. Baird upped their price target on Enliven Therapeutics from $40.00 to $52.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th. The Goldman Sachs Group began coverage on Enliven Therapeutics in a research note on Monday, June 16th. They issued a "buy" rating and a $37.00 price target for the company. HC Wainwright increased their target price on Enliven Therapeutics from $40.00 to $48.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Finally, Jones Trading lowered their target price on Enliven Therapeutics from $36.00 to $27.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Enliven Therapeutics has an average rating of "Buy" and an average target price of $41.20.

Enliven Therapeutics Stock Down 0.3%

ELVN traded down $0.06 during trading on Tuesday, reaching $18.68. The company had a trading volume of 62,617 shares, compared to its average volume of 365,802. The stock has a market cap of $916.68 million, a P/E ratio of -9.73 and a beta of 0.93. The business has a 50 day simple moving average of $20.68 and a 200-day simple moving average of $20.09. Enliven Therapeutics, Inc. has a 52 week low of $13.30 and a 52 week high of $30.03.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last issued its quarterly earnings results 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, equities research analysts expect that Enliven Therapeutics, Inc. will post -1.95 EPS for the current fiscal year.

Enliven Therapeutics 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.