BIT Capital GmbH Acquires New Shares 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 acquired a new stake in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 19,386 shares of the company's stock, valued at approximately $382,000.

A number of other institutional investors have also modified their holdings of ELVN. Ameriprise Financial Inc. purchased a new position in shares of Enliven Therapeutics in the fourth quarter valued at approximately $789,000. Millennium Management LLC grew its position in Enliven Therapeutics by 108.6% in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Enliven Therapeutics by 67.1% in 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 grew its position in Enliven Therapeutics by 4.9% in 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, Wellington Management Group LLP grew its position in Enliven Therapeutics by 15.3% in the fourth quarter. Wellington Management Group LLP now owns 80,916 shares of the company's stock worth $1,821,000 after acquiring an additional 10,746 shares during the period. Hedge funds and other institutional investors own 95.08% of the company's stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Enliven Therapeutics

In other news, CEO Samuel Kintz sold 12,500 shares of Enliven Therapeutics stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $22.52, for a total value of $281,500.00. Following the transaction, the chief executive officer directly owned 940,392 shares in the company, valued at approximately $21,177,627.84. The trade was a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Anish Patel sold 6,667 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $20.34, for a total value of $135,606.78. Following the transaction, the chief operating officer owned 303,309 shares in the company, valued at $6,169,305.06. This represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 99,084 shares of company stock worth $2,046,719 over the last three months. Corporate insiders own 25.90% of the company's stock.

Enliven Therapeutics Stock Performance

Shares of ELVN stock traded down $0.33 during mid-day trading on Thursday, hitting $18.51. 74,842 shares of the stock traded hands, compared to its average volume of 367,391. Enliven Therapeutics, Inc. has a twelve month low of $13.30 and a twelve month high of $30.03. The firm has a market cap of $908.27 million, a price-to-earnings ratio of -9.73 and a beta of 0.93. The company's 50-day simple moving average is $20.84 and its 200-day simple moving average is $20.05.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.06). Analysts forecast that Enliven Therapeutics, Inc. will post -1.95 earnings per share for the current year.

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.