First Light Asset Management LLC Acquires New Holdings in Enliven Therapeutics, Inc. $ELVN

Key Points

• First Light Asset Management acquired 201,867 shares of Enliven Therapeutics, valued at approximately $7.9 million, giving it a 0.33% stake. 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. Recent targets range from $62 to $80, while Goldman Sachs raised its target to $67.
• Enliven shares opened at $52.95 and are near their 52-week high of $54.88. The company beat first-quarter EPS expectations, reporting a loss of $0.38 per share versus the estimated loss of $0.44.

First Light Asset Management LLC bought a new stake in Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 201,867 shares of the company's stock, valued at approximately $7,913,000. First Light Asset Management LLC owned approximately 0.33% of Enliven Therapeutics as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ELVN. SummitTX Capital L.P. bought a new stake in shares of Enliven Therapeutics during the 1st quarter worth about $2,693,000. Affinity Asset Advisors LLC bought a new position in shares of Enliven Therapeutics in the first quarter valued at approximately $23,007,000. Entropy Technologies LP bought a new position in shares of Enliven Therapeutics in the first quarter valued at approximately $239,000. Siren L.L.C. acquired a new position in shares of Enliven Therapeutics during the first quarter valued at approximately $29,252,000. Finally, Walleye Capital LLC acquired a new position in shares of Enliven Therapeutics during the first quarter valued at approximately $1,483,000. Institutional investors and hedge funds own 95.08% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ELVN shares. The Goldman Sachs Group boosted their target price on Enliven Therapeutics from $59.00 to $67.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Wall Street Zen upgraded Enliven Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, May 11th. HC Wainwright lifted their price target on Enliven Therapeutics from $56.00 to $64.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Guggenheim began coverage on Enliven Therapeutics in a research note on Tuesday, May 12th. They issued a "buy" rating and a $80.00 price objective on the stock. Finally, Mizuho upped their price objective on Enliven Therapeutics from $45.00 to $62.00 and gave the company an "outperform" rating in a report on Tuesday, June 2nd. 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 stock. According to data from MarketBeat, Enliven Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $70.50.

Insider Buying and Selling

In other Enliven Therapeutics news, CFO Benjamin Hohl sold 6,018 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $43.80, for a total transaction of $263,588.40. Following 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 sale was disclosed in a document filed 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, 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 value of $345,400.00. Following the completion of the sale, the director owned 51,884 shares of the company's stock, valued at $1,792,073.36. The trade was a 16.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 26,018 shares of company stock valued at $1,113,888 in the last ninety days. Company insiders own 3.00% of the company's stock.

Enliven Therapeutics Price Performance

NASDAQ:ELVN opened at $52.95 on Monday. Enliven Therapeutics, Inc. has a 1-year low of $14.78 and a 1-year high of $54.88. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -31.71 and a beta of 0.24. The stock has a fifty day simple moving average of $45.49 and a 200 day simple moving average of $37.43.

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

Enliven Therapeutics Company 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.

Want to see what other hedge funds are holding ELVN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.