Enliven Therapeutics, Inc. $ELVN Shares Sold by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management Holding SA cut its Enliven Therapeutics stake by 28.7% in Q1, selling 373,691 shares and leaving it with 929,544 shares worth about $36.4 million.
• Enliven Therapeutics’ stock was trading near its recent highs, opening at $50.73 versus a 52-week range of $14.78 to $52.39, while the company reported a smaller-than-expected quarterly loss of $0.38 per share.
• Analysts remain mixed but mostly positive: the stock has a Moderate Buy consensus rating with a $64.50 target price, though insiders recently sold shares and one firm still has a sell rating.

Pictet Asset Management Holding SA lowered its position in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) by 28.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 929,544 shares of the company's stock after selling 373,691 shares during the quarter. Pictet Asset Management Holding SA owned about 1.53% of Enliven Therapeutics worth $36,438,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Seven Fleet Capital Management LP acquired a new position in Enliven Therapeutics during the fourth quarter valued at approximately $180,000. Invesco Ltd. increased its position in shares of Enliven Therapeutics by 7.0% in the fourth quarter. Invesco Ltd. now owns 24,720 shares of the company's stock worth $381,000 after acquiring an additional 1,624 shares in the last quarter. XTX Topco Ltd raised its stake in shares of Enliven Therapeutics by 472.6% in the 4th quarter. XTX Topco Ltd now owns 60,702 shares of the company's stock valued at $935,000 after acquiring an additional 50,101 shares during the period. Vestal Point Capital LP raised its stake in shares of Enliven Therapeutics by 230.2% in 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. Finally, Virtus Investment Advisers LLC lifted its holdings in shares of Enliven Therapeutics by 172.6% during the 4th quarter. Virtus Investment Advisers LLC now owns 15,778 shares of the company's stock valued at $243,000 after acquiring an additional 9,991 shares in the last quarter. Institutional investors and hedge funds own 95.08% of the company's stock.

Enliven Therapeutics Stock Down 0.2%

Shares of NASDAQ ELVN opened at $50.73 on Wednesday. Enliven Therapeutics, Inc. has a fifty-two week low of $14.78 and a fifty-two week high of $52.39. The business has a 50 day moving average price of $42.34 and a two-hundred day moving average price of $32.98. The firm has a market cap of $3.09 billion, a PE ratio of -30.38 and a beta of 0.29.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last announced its earnings results 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, analysts anticipate that Enliven Therapeutics, Inc. will post -1.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ELVN shares. HC Wainwright upped their price target on shares of Enliven Therapeutics from $48.00 to $56.00 and gave the stock a "buy" rating in a research report on Thursday, March 26th. Weiss Ratings reissued a "sell (d-)" rating on shares of Enliven Therapeutics in a research report on Monday, April 20th. Wall Street Zen upgraded Enliven Therapeutics from a "sell" rating to a "hold" rating in a research note on Monday, May 11th. The Goldman Sachs Group upped their target price on Enliven Therapeutics from $41.00 to $59.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Guggenheim initiated coverage on Enliven Therapeutics in a research note on Tuesday, May 12th. They issued a "buy" rating and a $80.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.50.

Insider Buying and Selling at Enliven Therapeutics

In other Enliven Therapeutics news, Director Lori Anne Kunkel sold 10,000 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $34.54, for a total transaction of $345,400.00. Following the transaction, the director directly owned 51,884 shares in the company, valued at $1,792,073.36. This represents a 16.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $43.80, for a total transaction of $263,588.40. Following the completion of the sale, the chief financial officer directly owned 51,000 shares of the company's stock, valued at $2,233,800. The trade was a 10.55% 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. Corporate insiders own 3.00% of the company's stock.

About Enliven Therapeutics

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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