Connor Clark & Lunn Investment Management Ltd. Invests $8.16 Million in Enliven Therapeutics, Inc. $ELVN

Key Points

• Connor Clark & Lunn Investment Management acquired 160,879 Enliven Therapeutics shares worth approximately $8.16 million, giving it a 0.22% stake. Institutional investors collectively own 95.08% of the company.
• Enliven’s shares opened at $60.87, near its 52-week high of $62.32, despite the company reporting a quarterly loss of $0.49 per share that missed analyst expectations of a $0.39 loss.
• Analysts remain broadly positive, with eight Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $75.00. Meanwhile, insiders sold nearly 196,849 shares worth $11.34 million during the quarter under pre-arranged trading plans.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 160,879 shares of the company's stock, valued at approximately $8,165,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.22% of Enliven Therapeutics at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. KBC Group NV acquired a new position in Enliven Therapeutics during the 1st quarter worth $38,000. Mirae Asset Global Investments Co. Ltd. raised its position in Enliven Therapeutics by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,884 shares of the company's stock valued at $44,000 after purchasing an additional 594 shares in the last quarter. BNP Paribas Financial Markets raised its position in Enliven Therapeutics by 33.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company's stock valued at $75,000 after purchasing an additional 930 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Enliven Therapeutics in the 4th quarter valued at about $83,000. Finally, Quantbot Technologies LP grew its position in shares of Enliven Therapeutics by 47.1% during the second quarter. Quantbot Technologies LP now owns 4,477 shares of the company's stock worth $90,000 after buying an additional 1,434 shares in the last quarter. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Enliven Therapeutics Stock Performance

ELVN opened at $60.87 on Thursday. Enliven Therapeutics, Inc. has a one year low of $14.78 and a one year high of $62.32. The company has a market cap of $4.46 billion, a P/E ratio of -36.45 and a beta of 0.27. The business's 50-day simple moving average is $54.05 and its 200-day simple moving average is $42.77.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last posted 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, analysts predict that Enliven Therapeutics, Inc. will post -1.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mika K. Derynck sold 158,795 shares of the business's stock in a transaction that occurred 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. The trade was a 64.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Benjamin Hohl sold 6,018 shares of the company'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 owned 40,036 shares of the company's stock, valued at approximately $2,345,308.88. The trade was 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. Over the last quarter, insiders have sold 196,849 shares of company stock valued at $11,344,257. 3.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JonesTrading raised 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 boosted their price target 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. William Blair began coverage on shares of Enliven Therapeutics in a research report on Tuesday, August 18th. They issued an "outperform" rating on the stock. Stifel Nicolaus increased their price objective on shares of Enliven Therapeutics from $80.00 to $82.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. 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 investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Enliven Therapeutics has an average rating of "Moderate Buy" and an average price target of $75.00.

Enliven Therapeutics 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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