BlackRock Inc. Invests $221.25 Million in Enliven Therapeutics, Inc. $ELVN

Key Points

• BlackRock acquired 4.36 million Enliven Therapeutics shares worth approximately $221.3 million, giving it a 7.16% stake. Institutional investors collectively own 95.08% of the company.
• Enliven insiders sold 196,849 shares valued at $11.34 million over the past 90 days, including substantial Rule 10b5-1 plan sales by the CFO and a director.
• The stock opened at $60.50 after reporting a quarterly loss of $0.49 per share, below expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $75, despite one downgrade to “sell.”

BlackRock Inc. acquired a new stake in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 4,359,704 shares of the company's stock, valued at approximately $221,255,000. BlackRock Inc. owned 7.16% of Enliven Therapeutics at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Commodore Capital LP increased its position in Enliven Therapeutics by 0.4% in the second quarter. Commodore Capital LP now owns 4,692,809 shares of the company's stock worth $94,138,000 after buying an additional 17,809 shares in the last quarter. Vestal Point Capital LP grew its stake in shares of Enliven Therapeutics by 230.2% during the 4th quarter. Vestal Point Capital LP now owns 3,830,000 shares of the company's stock valued at $58,982,000 after acquiring an additional 2,670,000 shares during the period. Polar Capital Holdings Plc grew its stake in shares of Enliven Therapeutics by 13.5% during the 4th quarter. Polar Capital Holdings Plc now owns 3,513,680 shares of the company's stock valued at $54,111,000 after acquiring an additional 418,673 shares during the period. Vanguard Group Inc. increased its holdings in Enliven Therapeutics by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,553,014 shares of the company's stock worth $52,260,000 after acquiring an additional 142,378 shares in the last quarter. Finally, State Street Corp increased its holdings in Enliven Therapeutics by 9.1% in the 4th quarter. State Street Corp now owns 1,052,862 shares of the company's stock worth $16,214,000 after acquiring an additional 87,725 shares in the last quarter. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Enliven Therapeutics

In related news, CFO Benjamin Hohl sold 6,018 shares of the firm's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $58.58, for a total transaction of $352,534.44. Following the completion of the transaction, the chief financial officer directly owned 40,036 shares of the company's stock, valued at approximately $2,345,308.88. This trade represents a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 on Tuesday, August 4th. The shares were sold at an average price of $60.21, for a total transaction of $9,561,046.95. Following the completion of the sale, the director owned 87,373 shares in the company, valued at approximately $5,260,728.33. This represents a 64.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 196,849 shares of company stock valued at $11,344,257. Corporate insiders own 3.00% of the company's stock.

Enliven Therapeutics Trading Down 0.6%

NASDAQ ELVN opened at $60.50 on Friday. Enliven Therapeutics, Inc. has a 12 month low of $14.78 and a 12 month high of $62.32. The stock has a market cap of $4.43 billion, a PE ratio of -36.23 and a beta of 0.27. The stock's 50 day moving average is $54.36 and its 200 day moving average is $42.99.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.10). On average, analysts forecast that Enliven Therapeutics, Inc. will post -1.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JonesTrading lifted their price target 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. Guggenheim decreased their price objective on shares of Enliven Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Wall Street Zen cut shares of Enliven Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Mizuho upped their target price on shares of Enliven Therapeutics from $62.00 to $73.00 and gave the stock an "outperform" rating in a report on Tuesday, August 18th. Finally, Stifel Nicolaus increased their price target on Enliven Therapeutics from $80.00 to $82.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $75.00.

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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