Enliven Therapeutics, Inc. $ELVN Shares Newly Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 98,023 Enliven Therapeutics shares worth approximately $4.98 million, while institutional investors collectively own 95.08% of the company.
• ELVN reported a quarterly loss of $0.49 per share, missing analysts’ $0.39 estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $75, compared with the stock’s recent $46.01 price.
• Company insiders sold 186,849 shares worth approximately $11.04 million over the past three months, including sizable sales by two directors conducted under pre-arranged trading plans.

Bank of America Corp DE purchased a new stake in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 98,023 shares of the company's stock, valued at approximately $4,975,000. Bank of America Corp DE owned about 0.13% of Enliven Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of ELVN. KBC Group NV acquired a new position in shares of Enliven Therapeutics during the 1st quarter worth approximately $38,000. State of Wyoming acquired a new stake in Enliven Therapeutics in the 2nd quarter worth about $96,000. FNY Investment Advisers LLC acquired a new stake in shares of Enliven Therapeutics in the second quarter valued at approximately $126,000. Royal Bank of Canada lifted its position in shares of Enliven Therapeutics by 345.0% during the 1st quarter. Royal Bank of Canada now owns 5,424 shares of the company's stock valued at $212,000 after acquiring an additional 4,205 shares during the period. Finally, Entropy Technologies LP acquired a new stake in Enliven Therapeutics during the first quarter worth about $239,000. Institutional investors own 95.08% of the company's stock.

Enliven Therapeutics Price Performance

Shares of ELVN stock opened at $46.01 on Tuesday. Enliven Therapeutics, Inc. has a one year low of $14.78 and a one year high of $62.32. The firm has a 50-day moving average of $55.78 and a 200-day moving average of $46.89. The company has a market cap of $3.37 billion, a P/E ratio of -27.55 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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.10). As a group, research analysts expect that Enliven Therapeutics, Inc. will post -1.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ELVN has been the topic of a number of research analyst reports. Guggenheim reduced their target price on Enliven Therapeutics from $80.00 to $78.00 and set a "buy" rating on the stock in a report on Thursday, August 6th. Mizuho upped their price target on shares of Enliven Therapeutics from $62.00 to $73.00 and gave the company an "outperform" rating in a research report on Tuesday, August 18th. JonesTrading raised their price objective on Enliven Therapeutics from $45.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, June 29th. Weiss Ratings restated a "sell (d-)" rating on shares of Enliven Therapeutics in a report on Friday, July 17th. Finally, Barclays initiated coverage on Enliven Therapeutics in a report on Tuesday, August 18th. They set an "overweight" rating and a $78.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.00.

Insider Buying and Selling at Enliven Therapeutics

In other news, Director Mika K. Derynck sold 158,795 shares of the stock in a transaction on 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 completion of the transaction, the director owned 87,373 shares in the company, valued at approximately $5,260,728.33. This represents a 64.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lori Kunkel sold 10,000 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $50.49, for a total transaction of $504,900.00. Following the transaction, the director owned 41,884 shares of the company's stock, valued at $2,114,723.16. This represents a 19.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 186,849 shares of company stock worth $11,038,275 over the last three months. 3.00% of the stock is currently owned by insiders.

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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