Enliven Therapeutics, Inc. $ELVN is Avidity Partners Management LP's 6th Largest Position

Key Points

• Avidity Partners Management LP increased its Enliven Therapeutics stake by 185.1% in the first quarter to 400,000 shares worth approximately $15.68 million, making ELVN its sixth-largest holding. Institutional investors collectively own 95.08% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $70.50. Several firms recently raised their targets, including Stifel Nicolaus to $80.
• ELVN traded at $54.81, near its 12-month high of $55.82, while company insiders sold 32,036 shares worth $1.43 million over the past 90 days under pre-arranged Rule 10b5-1 plans.

Avidity Partners Management LP increased its stake in Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) by 185.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 400,000 shares of the company's stock after purchasing an additional 259,700 shares during the quarter. Enliven Therapeutics makes up approximately 3.1% of Avidity Partners Management LP's investment portfolio, making the stock its 6th biggest position. Avidity Partners Management LP owned approximately 0.66% of Enliven Therapeutics worth $15,680,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of ELVN. KBC Group NV purchased a new stake in Enliven Therapeutics in the first quarter worth about $38,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Enliven Therapeutics by 25.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,884 shares of the company's stock valued at $44,000 after buying an additional 594 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Enliven Therapeutics by 33.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company's stock valued at $75,000 after buying an additional 930 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Enliven Therapeutics by 47.1% during 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 in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Enliven Therapeutics by 194.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,286 shares of the company's stock valued at $106,000 after acquiring an additional 3,490 shares during the period. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Lori Anne Kunkel sold 10,000 shares of the business's stock in a transaction on Monday, July 6th. The stock was 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 $2,114,723.16. The trade was a 19.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $316,787.52. Following the completion of the sale, the chief financial officer owned 46,054 shares in the company, valued at approximately $2,424,282.56. The trade was a 11.56% 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 ninety days, insiders have sold 32,036 shares of company stock worth $1,430,676. Insiders own 3.00% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on ELVN. Stifel Nicolaus raised their price objective on shares of Enliven Therapeutics from $60.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. Guggenheim began coverage on shares of Enliven Therapeutics in a report on Tuesday, May 12th. They issued a "buy" rating and a $80.00 target price for the company. Mizuho increased 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. HC Wainwright raised their price target on Enliven Therapeutics from $56.00 to $64.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Finally, The Goldman Sachs Group boosted their price target on Enliven Therapeutics from $59.00 to $67.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $70.50.

Enliven Therapeutics Trading Up 1.6%

ELVN opened at $54.81 on Friday. The stock has a 50-day moving average of $46.75 and a 200 day moving average of $38.48. Enliven Therapeutics, Inc. has a 12 month low of $14.78 and a 12 month high of $55.82. The firm has a market cap of $3.34 billion, a P/E ratio of -32.82 and a beta of 0.24.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.44) by $0.06. On average, research analysts forecast that Enliven Therapeutics, Inc. will post -1.57 earnings per share for the current fiscal year.

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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