Algert Global LLC Makes New Investment in Enliven Therapeutics, Inc. $ELVN

Key Points

• Algert Global LLC initiated a 72,090-share position in Enliven Therapeutics valued at approximately $3.66 million, while institutional investors and hedge funds collectively owned 95.08% of the stock.
• Enliven shares recently traded at $57.86 after falling 4.4%; the company reported a quarterly loss of $0.49 per share, missing analyst expectations of a $0.39 loss.
• Analyst sentiment remains favorable, with eight Buy ratings, one Sell rating, and a consensus price target of $75.00. Several firms raised their targets, including Goldman Sachs to $80 and Barclays, which initiated coverage with a $78 target.

Algert Global LLC bought a new stake in Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 72,090 shares of the company's stock, valued at approximately $3,659,000. Algert Global LLC owned approximately 0.10% of Enliven Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in ELVN. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Enliven Therapeutics in the second quarter worth about $8,165,000. BlackRock Inc. purchased a new position in Enliven Therapeutics in the 2nd quarter worth approximately $221,255,000. Deutsche Bank AG purchased a new stake in shares of Enliven Therapeutics in the second quarter valued at approximately $2,289,000. TimesSquare Capital Management LLC purchased a new stake in shares of Enliven Therapeutics in the second quarter valued at approximately $13,263,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Enliven Therapeutics in the second quarter valued at approximately $479,000. 95.08% of the stock is owned by institutional investors and hedge funds.

Enliven Therapeutics Trading Down 4.4%

Shares of ELVN opened at $57.86 on Friday. The company's 50 day simple moving average is $54.62 and its 200-day simple moving average is $43.10. Enliven Therapeutics, Inc. has a 12-month low of $14.78 and a 12-month high of $62.32. The firm has a market cap of $4.24 billion, a PE ratio of -34.65 and a beta of 0.27.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.10). As a group, equities research analysts forecast that Enliven Therapeutics, Inc. will post -1.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on ELVN. JonesTrading boosted their target price on shares of Enliven Therapeutics from $45.00 to $70.00 and gave the company a "buy" rating in a report on Monday, June 29th. Mizuho increased their price objective on Enliven Therapeutics from $62.00 to $73.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 18th. The Goldman Sachs Group lifted their target price on Enliven Therapeutics from $67.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Barclays assumed coverage on Enliven Therapeutics in a research note on Tuesday, August 18th. They issued an "overweight" rating and a $78.00 price target on the stock. Finally, Guggenheim reduced their price objective on shares of Enliven Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $75.00.

Insider Buying and Selling at Enliven Therapeutics

In other Enliven Therapeutics news, Director Lori Anne Kunkel sold 10,000 shares of the company's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $50.49, for a total transaction of $504,900.00. Following the completion of the transaction, the director owned 41,884 shares in the company, valued at approximately $2,114,723.16. This represents a 19.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Benjamin Hohl sold 6,018 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $58.58, for a total transaction of $352,534.44. Following the completion of the sale, the chief financial officer owned 40,036 shares of the company's stock, valued at $2,345,308.88. This trade represents a 13.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 196,849 shares of company stock valued at $11,344,257. 3.00% of the stock is owned by company insiders.

Enliven Therapeutics Company Profile

Enliven Therapeutics is a clinical-stage biotechnology company focused on developing small-molecule therapies that harness induced proximity mechanisms to selectively target and degrade disease-causing proteins in cancer. Leveraging its proprietary Induced Proximity platform, the company designs molecular glues and related modalities to recruit endogenous cellular machinery for targeted protein degradation, with the goal of treating malignancies driven by so-called “undruggable” oncogenic factors.

The company’s pipeline comprises several early-stage programs directed at key oncogenic drivers across hematologic and solid tumor indications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source