Handelsbanken Fonder AB Buys New Shares in Enliven Therapeutics, Inc. $ELVN

Key Points

• Handelsbanken Fonder AB purchased 17,300 shares of Enliven Therapeutics valued at approximately $878,000, while institutional investors and hedge funds collectively own 95.08% of the company.
• Analyst sentiment remains largely positive, with eight Buy ratings and one Sell rating producing a consensus “Moderate Buy” rating and an average price target of $75; recent targets range from $70 to $82.
• Enliven shares opened at $59.39, near their 52-week high of $62.32, despite the company reporting a quarterly loss of $0.49 per share versus the expected $0.39 loss. Insiders have sold approximately $11.3 million in stock over the past 90 days.

Handelsbanken Fonder AB purchased a new stake in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,300 shares of the company's stock, valued at approximately $878,000.

A number of other large investors have also recently bought and sold shares of the business. KBC Group NV acquired a new position in shares of Enliven Therapeutics in the 1st quarter valued at about $38,000. FNY Investment Advisers LLC bought a new stake in shares of Enliven Therapeutics during the 2nd quarter valued at about $126,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Enliven Therapeutics by 25.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,884 shares of the company's stock worth $44,000 after purchasing an additional 594 shares during the period. BNP Paribas Financial Markets grew its stake in Enliven Therapeutics by 33.3% during the second quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company's stock worth $75,000 after purchasing an additional 930 shares during the period. Finally, Quantbot Technologies LP increased its holdings in Enliven Therapeutics by 47.1% in the second quarter. Quantbot Technologies LP now owns 4,477 shares of the company's stock worth $90,000 after purchasing an additional 1,434 shares in the last quarter. 95.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on ELVN. Wall Street Zen cut Enliven Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. JonesTrading lifted their price objective on shares of Enliven Therapeutics from $45.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, June 29th. Stifel Nicolaus boosted their target price on shares of Enliven Therapeutics from $80.00 to $82.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Barclays assumed coverage on shares of Enliven Therapeutics in a research note on Tuesday. They set an "overweight" rating and a $78.00 target price on the stock. Finally, Mizuho raised their price target on shares of Enliven Therapeutics from $62.00 to $73.00 and gave the stock an "outperform" rating in a report on Tuesday. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Enliven Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $75.00.

Insider Transactions at Enliven Therapeutics

In related news, Director Mika K. Derynck sold 158,795 shares of Enliven Therapeutics stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $60.21, for a total value of $9,561,046.95. Following the completion of the sale, the director owned 87,373 shares of the company's stock, valued at approximately $5,260,728.33. This trade represents a 64.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lori Anne Kunkel sold 10,000 shares of the business's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $50.49, for a total transaction of $504,900.00. Following the sale, the director owned 41,884 shares of the company's stock, valued at $2,114,723.16. This trade 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 196,849 shares of company stock valued at $11,344,257 over the last ninety days. 3.00% of the stock is owned by company insiders.

Enliven Therapeutics Price Performance

Shares of Enliven Therapeutics stock opened at $59.39 on Thursday. The business has a 50-day simple moving average of $52.34 and a 200 day simple moving average of $41.61. Enliven Therapeutics, Inc. has a one year low of $14.78 and a one year high of $62.32. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of -35.56 and a beta of 0.27.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last announced its quarterly 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, sell-side analysts expect that Enliven Therapeutics, Inc. will post -1.67 EPS for the current 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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