Jennison Associates LLC Purchases New Holdings in Enliven Therapeutics, Inc. $ELVN

Key Points

• Jennison Associates LLC opened a new position in Enliven Therapeutics, buying 309,180 shares worth about $12.1 million in the first quarter, or roughly 0.51% of the company.
• Enliven Therapeutics stock rose 5.1% and recently traded near its 12-month high, with a market cap of about $3.31 billion.
• The company reported a smaller-than-expected quarterly loss, while analysts remain generally bullish with a Moderate Buy consensus and an average price target of $70.50.

Jennison Associates LLC acquired a new stake in shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 309,180 shares of the company's stock, valued at approximately $12,120,000. Jennison Associates LLC owned about 0.51% of Enliven Therapeutics as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ELVN. Vestal Point Capital LP increased its holdings in shares of Enliven Therapeutics by 230.2% in the fourth quarter. Vestal Point Capital LP now owns 3,830,000 shares of the company's stock valued at $58,982,000 after purchasing an additional 2,670,000 shares during the period. TCG Crossover Management LLC acquired a new stake in shares of Enliven Therapeutics during the second quarter worth $9,990,000. Duquesne Family Office LLC lifted its holdings in shares of Enliven Therapeutics by 104.6% during the third quarter. Duquesne Family Office LLC now owns 947,405 shares of the company's stock worth $19,393,000 after purchasing an additional 484,405 shares during the period. Spruce Street Capital LP acquired a new stake in shares of Enliven Therapeutics during the fourth quarter worth $6,870,000. Finally, Polar Capital Holdings Plc grew its position in Enliven Therapeutics by 13.5% in the 4th quarter. Polar Capital Holdings Plc now owns 3,513,680 shares of the company's stock valued at $54,111,000 after buying an additional 418,673 shares during the last quarter. 95.08% of the stock is owned by institutional investors and hedge funds.

Enliven Therapeutics Trading Up 5.1%

Shares of Enliven Therapeutics stock opened at $54.33 on Wednesday. Enliven Therapeutics, Inc. has a 12-month low of $14.78 and a 12-month high of $54.88. The stock has a market cap of $3.31 billion, a PE ratio of -32.53 and a beta of 0.24. The company has a 50-day moving average of $44.88 and a two-hundred day moving average of $36.64.

Enliven Therapeutics (NASDAQ:ELVN - Get Free Report) last posted its quarterly 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, sell-side analysts forecast that Enliven Therapeutics, Inc. will post -1.57 EPS for the current fiscal year.

Insider Buying and Selling at Enliven Therapeutics

In other Enliven Therapeutics news, Director Lori Anne Kunkel sold 10,000 shares of the business's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $34.54, for a total transaction of $345,400.00. Following the sale, the director directly owned 51,884 shares in the company, valued at approximately $1,792,073.36. The trade was a 16.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $43.80, for a total value of $263,588.40. Following the completion of the sale, the chief financial officer directly owned 51,000 shares in the company, valued at $2,233,800. This trade represents a 10.55% 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 have sold 26,018 shares of company stock valued at $1,113,888. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ELVN. Guggenheim began coverage on shares of Enliven Therapeutics in a research note on Tuesday, May 12th. They issued a "buy" rating and a $80.00 price objective on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Enliven Therapeutics in a report on Friday. Wall Street Zen upgraded shares of Enliven Therapeutics from a "sell" rating to a "hold" rating in a research note on Monday, May 11th. Mizuho increased their price target on shares of Enliven Therapeutics from $45.00 to $62.00 and gave the stock an "outperform" rating in a report on Tuesday, June 2nd. Finally, Stifel Nicolaus raised their price objective on shares of Enliven Therapeutics from $60.00 to $80.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $70.50.

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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