Engineers Gate Manager LP Invests $1.48 Million in Enliven Therapeutics, Inc. $ELVN

Key Points

• Engineers Gate Manager LP purchased 29,152 Enliven Therapeutics shares worth approximately $1.48 million in the second quarter. Institutional investors now own 95.08% of the company.
• Analyst sentiment is broadly positive: eight analysts rate the stock a Buy, one rates it a Sell, and the consensus price target is $75.00. Recent firms raised targets as high as $80.00.
• ELVN opened at $49.12, below its 52-week high of $62.32, while the company reported a quarterly loss of $0.49 per share versus the expected $0.39 loss. Insiders sold roughly $10.7 million of stock over the past 90 days.

Engineers Gate Manager LP purchased a new position in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,152 shares of the company's stock, valued at approximately $1,479,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Squarepoint Ops LLC acquired a new position in shares of Enliven Therapeutics in the 2nd quarter valued at $259,000. Arizona State Retirement System boosted its holdings in Enliven Therapeutics by 45.1% during the second quarter. Arizona State Retirement System now owns 13,007 shares of the company's stock worth $660,000 after buying an additional 4,042 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Enliven Therapeutics during the 2nd quarter worth about $2,639,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Enliven Therapeutics by 18.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 80,072 shares of the company's stock valued at $4,064,000 after acquiring an additional 12,597 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Enliven Therapeutics in the 2nd quarter valued at about $537,000. 95.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. William Blair initiated coverage on shares of Enliven Therapeutics in a research note on Tuesday, August 18th. They set an "outperform" rating on the stock. HC Wainwright upped their target price on shares of Enliven Therapeutics from $56.00 to $64.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Mizuho increased 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. Barclays started coverage on shares of Enliven Therapeutics in a research report on Tuesday, August 18th. They set an "overweight" rating and a $78.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target on shares of Enliven Therapeutics from $67.00 to $80.00 and gave the company a "buy" rating 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $75.00.

Enliven Therapeutics Stock Performance

Shares of ELVN opened at $49.12 on Thursday. The stock has a 50 day simple moving average of $56.50 and a 200 day simple moving average of $45.89. Enliven Therapeutics, Inc. has a 52-week low of $14.78 and a 52-week high of $62.32. The firm has a market capitalization of $3.60 billion, a PE ratio of -29.41 and a beta of 0.30.

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

Insider Buying and Selling

In related news, CFO Benjamin Hohl sold 6,018 shares of the business's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $58.58, for a total value of $352,534.44. Following the sale, the chief financial officer directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mika Derynck sold 158,795 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $60.21, for a total value of $9,561,046.95. Following the transaction, 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 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. Insiders have sold a total of 180,831 shares of company stock worth $10,735,269 over the last ninety days. Company insiders own 3.00% of the company's stock.

Enliven Therapeutics Profile

Enliven Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule medicines for the treatment of cancer. The company applies a precision oncology approach, seeking to create targeted therapies that may offer improved efficacy, safety, durability and convenience compared with existing treatments.

Enliven's pipeline includes ELVN-001, an investigational BCR-ABL1 tyrosine kinase inhibitor being developed for patients with chronic myeloid leukemia, and ELVN-002, an investigational HER2 inhibitor intended for the treatment of HER2-driven solid tumors.

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