Enliven Therapeutics, Inc. $ELVN Stock: Assenagon Asset Management S.A. Boosts Holdings

Key Points

• Institutional ownership increased significantly: Assenagon Asset Management raised its Enliven Therapeutics stake by 276.4% to 1.15 million shares, while institutional investors and hedge funds collectively own 95.08% of the company.
• Analysts remain broadly bullish: Ten analysts rate ELVN a Buy and two rate it a Sell, producing a “Moderate Buy” consensus and an average price target of $74.44.
• The stock has weakened amid insider selling: ELVN opened at $37.32, well below its 52-week high of $62.32, while insiders sold $10.8 million worth of shares over the past 90 days.

Assenagon Asset Management S.A. raised its stake in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) by 276.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,153,973 shares of the company's stock after purchasing an additional 847,399 shares during the period. Assenagon Asset Management S.A. owned 1.57% of Enliven Therapeutics worth $52,898,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. First Light Asset Management LLC increased its stake in shares of Enliven Therapeutics by 574.1% in the second quarter. First Light Asset Management LLC now owns 1,360,750 shares of the company's stock valued at $69,058,000 after buying an additional 1,158,883 shares during the period. Tidal Investments LLC lifted its position in shares of Enliven Therapeutics by 27.7% in the 2nd quarter. Tidal Investments LLC now owns 60,694 shares of the company's stock worth $3,080,000 after purchasing an additional 13,179 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Enliven Therapeutics in the 2nd quarter worth approximately $228,000. Engineers Gate Manager LP acquired a new position in shares of Enliven Therapeutics in the 2nd quarter worth approximately $1,479,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Enliven Therapeutics in the 2nd quarter valued at $259,000. 95.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Enliven Therapeutics

In other Enliven Therapeutics news, Director J. Scott Garland sold 13,000 shares of Enliven Therapeutics stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $46.67, for a total value of $606,710.00. Following the completion of the sale, the director directly owned 13,000 shares of the company's stock, valued at approximately $606,710. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Benjamin Hohl sold 6,018 shares of the company's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $50.35, for a total transaction of $303,006.30. Following the transaction, the chief financial officer owned 38,000 shares in the company, valued at $1,913,300. This represents a 13.67% 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 ninety days, insiders sold 183,831 shares of company stock valued at $10,823,298. Corporate insiders own 3.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ELVN shares. JPMorgan Chase & Co. assumed coverage on shares of Enliven Therapeutics in a report on Thursday, October 1st. They issued an "overweight" rating and a $75.00 target price on the stock. Mizuho increased their price target on Enliven Therapeutics from $62.00 to $73.00 and gave the stock an "outperform" rating in a report on Tuesday, August 18th. HC Wainwright increased their price target on Enliven Therapeutics from $56.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Morgan Stanley initiated coverage on Enliven Therapeutics in a research report on Friday, October 2nd. They issued an "overweight" rating and a $70.00 price objective for the company. Finally, JonesTrading boosted their price objective on Enliven Therapeutics from $45.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Ten analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Enliven Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $74.44.

Enliven Therapeutics Stock Down 5.1%

NASDAQ:ELVN opened at $37.32 on Friday. Enliven Therapeutics, Inc. has a twelve month low of $14.78 and a twelve month high of $62.32. The company has a fifty day moving average of $52.02 and a 200-day moving average of $47.88. The firm has a market capitalization of $2.73 billion, a P/E ratio of -22.35 and a beta of 0.24.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.10). On average, analysts anticipate that Enliven Therapeutics, Inc. will post -1.81 EPS for the current fiscal year.

About Enliven Therapeutics

Enliven Therapeutics, Inc NASDAQ: ELVN is a clinical-stage biopharmaceutical company focused on discovering and developing small-molecule medicines for the treatment of cancer. The company seeks to develop therapies designed to address significant unmet needs in oncology, with an emphasis on targeted treatments that may offer improved efficacy, safety, or durability.

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 cancers.

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