Adage Capital Partners GP L.L.C. Sells 200,000 Shares of Enliven Therapeutics, Inc. $ELVN

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Enliven Therapeutics by 30.8%, selling 200,000 shares and retaining 450,000 shares valued at $8.86 million.
• Other institutional investors notably increased their stakes, with Tower Research Capital LLC raising its position by 230.2% and GAMMA Investing LLC increasing its stake by 3,058.1% in the first quarter.
• Enliven Therapeutics recently reported earnings of ($0.49) per share, surpassing analysts' expectations, and the stock has an average target price of $41.20 from several brokerages.

Adage Capital Partners GP L.L.C. reduced its stake in Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) by 30.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 450,000 shares of the company's stock after selling 200,000 shares during the period. Adage Capital Partners GP L.L.C. owned 0.92% of Enliven Therapeutics worth $8,856,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELVN. Polar Capital Holdings Plc increased its stake in Enliven Therapeutics by 267.6% in the fourth quarter. Polar Capital Holdings Plc now owns 2,389,668 shares of the company's stock valued at $53,768,000 after purchasing an additional 1,739,668 shares in the last quarter. Janus Henderson Group PLC increased its stake in Enliven Therapeutics by 27.9% in the fourth quarter. Janus Henderson Group PLC now owns 1,331,877 shares of the company's stock valued at $30,001,000 after purchasing an additional 290,153 shares in the last quarter. Patient Square Capital LP increased its stake in Enliven Therapeutics by 147.4% in the fourth quarter. Patient Square Capital LP now owns 224,038 shares of the company's stock valued at $5,041,000 after purchasing an additional 133,466 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Enliven Therapeutics by 148,550.7% in the first quarter. Russell Investments Group Ltd. now owns 105,542 shares of the company's stock valued at $2,077,000 after purchasing an additional 105,471 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Enliven Therapeutics in the first quarter valued at $2,049,000. 95.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Enliven Therapeutics Trading Up 0.2%

Shares of ELVN traded up $0.04 during trading hours on Friday, reaching $19.96. 618,497 shares of the stock traded hands, compared to its average volume of 435,448. The stock has a fifty day simple moving average of $20.34 and a 200 day simple moving average of $19.71. Enliven Therapeutics, Inc. has a 52 week low of $13.30 and a 52 week high of $30.03. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -9.98 and a beta of 0.89.

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

Insider Activity at Enliven Therapeutics

In related news, CEO Samuel Kintz sold 12,500 shares of the firm's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $22.52, for a total transaction of $281,500.00. Following the transaction, the chief executive officer directly owned 940,392 shares of the company's stock, valued at $21,177,627.84. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Anish Patel sold 6,667 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $19.79, for a total transaction of $131,939.93. Following the transaction, the chief operating officer directly owned 296,642 shares in the company, valued at $5,870,545.18. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,234 shares of company stock valued at $2,185,564 over the last ninety days. Corporate insiders own 25.90% of the company's stock.

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.