Assenagon Asset Management S.A. Makes New Investment in Enliven Therapeutics, Inc. $ELVN

Key Points

• Assenagon Asset Management initiated a 306,574-share position in Enliven Therapeutics worth approximately $15.6 million, giving it a 0.50% stake. Institutional investors collectively own 95.08% of the company.
• Analysts remain broadly optimistic, with six Buy ratings and one Sell rating; the consensus rating is Moderate Buy and the average price target is $72.67, with several firms recently raising targets.
• Enliven shares opened at $59.42 after reaching a 52-week high of $62.32, while the company reported a quarterly loss of $0.49 per share, missing estimates of a $0.39 loss. Insiders sold roughly $11.0 million of stock over the past three months.

Assenagon Asset Management S.A. bought a new stake in Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 306,574 shares of the company's stock, valued at approximately $15,559,000. Assenagon Asset Management S.A. owned 0.50% of Enliven Therapeutics at the end of the most recent quarter.

Several other large investors have also modified their holdings of ELVN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Enliven Therapeutics by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,729 shares of the company's stock valued at $428,000 after acquiring an additional 1,693 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Enliven Therapeutics by 61.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 211,752 shares of the company's stock worth $4,167,000 after buying an additional 80,506 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Enliven Therapeutics during the 1st quarter worth approximately $578,000. Legal & General Group Plc lifted its holdings in shares of Enliven Therapeutics by 52.2% in the 2nd quarter. Legal & General Group Plc now owns 32,225 shares of the company's stock valued at $646,000 after buying an additional 11,058 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in shares of Enliven Therapeutics by 47.1% in the 2nd quarter. Quantbot Technologies LP now owns 4,477 shares of the company's stock valued at $90,000 after buying an additional 1,434 shares during the period. Hedge funds and other institutional investors own 95.08% of the company's stock.

Insider Activity

In related news, CFO Benjamin Hohl sold 6,018 shares of the stock in a transaction on Friday, July 17th. The stock was sold at an average price of $52.64, for a total transaction of $316,787.52. Following the sale, the chief financial officer owned 46,054 shares of the company's stock, valued at $2,424,282.56. This trade represents a 11.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mika K. Derynck sold 158,795 shares of Enliven Therapeutics stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $60.21, for a total transaction of $9,561,046.95. Following the sale, the director owned 87,373 shares of the company's stock, valued at approximately $5,260,728.33. This trade represents a 64.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 190,831 shares of company stock worth $10,991,723 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ELVN has been the topic of a number of research reports. JonesTrading upped their price target on Enliven Therapeutics from $45.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, June 29th. The Goldman Sachs Group boosted their target price on Enliven Therapeutics from $67.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Stifel Nicolaus upped their target price on Enliven Therapeutics from $80.00 to $82.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Weiss Ratings reissued a "sell (d-)" rating on shares of Enliven Therapeutics in a report on Friday, July 17th. Finally, Mizuho lifted their price target on Enliven Therapeutics from $45.00 to $62.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 2nd. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $72.67.

Enliven Therapeutics Price Performance

Shares of Enliven Therapeutics stock opened at $59.42 on Tuesday. Enliven Therapeutics, Inc. has a 1 year low of $14.78 and a 1 year high of $62.32. The business has a 50 day moving average price of $49.06 and a 200 day moving average price of $40.00. The company has a market capitalization of $4.35 billion, a P/E ratio of -35.58 and a beta of 0.27.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last released its quarterly 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, research analysts expect that Enliven Therapeutics, Inc. will post -1.67 EPS for the current fiscal year.

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.

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