Nicholas Investment Partners LP Invests $19.87 Million in Enliven Therapeutics, Inc. $ELVN

Key Points

• Nicholas Investment Partners initiated a $19.87 million position in Enliven Therapeutics, purchasing 391,529 shares, while institutional investors collectively own 95.08% of the company.
• Enliven shares opened at $61.15, near their 52-week high of $62.32, but the clinical-stage biotech missed quarterly EPS expectations and analysts project a full-year loss of $1.69 per share.
• Analyst sentiment remains broadly positive, with eight Buy ratings, one Sell rating, a “Moderate Buy” consensus, and an average price target of $75.00; company insiders, however, sold $11.34 million in shares over the past 90 days.

Nicholas Investment Partners LP bought a new stake in Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 391,529 shares of the company's stock, valued at approximately $19,870,000. Enliven Therapeutics makes up 1.1% of Nicholas Investment Partners LP's investment portfolio, making the stock its 22nd biggest position. Nicholas Investment Partners LP owned approximately 0.53% of Enliven Therapeutics as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ELVN. Commodore Capital LP lifted its holdings in Enliven Therapeutics by 0.4% during the 2nd quarter. Commodore Capital LP now owns 4,692,809 shares of the company's stock worth $94,138,000 after buying an additional 17,809 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Enliven Therapeutics in the 2nd quarter valued at approximately $221,255,000. Vestal Point Capital LP raised its position in shares of Enliven Therapeutics by 230.2% during 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 in the last quarter. Polar Capital Holdings Plc raised its position in shares of Enliven Therapeutics by 13.5% during the 4th quarter. Polar Capital Holdings Plc now owns 3,513,680 shares of the company's stock valued at $54,111,000 after acquiring an additional 418,673 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Enliven Therapeutics by 5.9% during the third quarter. Vanguard Group Inc. now owns 2,553,014 shares of the company's stock worth $52,260,000 after purchasing an additional 142,378 shares during the last quarter. 95.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Lori Anne Kunkel sold 10,000 shares of the company's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $50.49, for a total value of $504,900.00. Following the completion of the sale, the director owned 41,884 shares of the company's stock, valued at $2,114,723.16. This represents a 19.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Benjamin Hohl sold 6,018 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $58.58, for a total transaction of $352,534.44. Following the completion of the transaction, the chief financial officer owned 40,036 shares of the company's stock, valued at $2,345,308.88. This represents a 13.07% 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. Insiders sold 196,849 shares of company stock valued at $11,344,257 over the last 90 days. 3.00% of the stock is currently owned by company insiders.

Enliven Therapeutics Price Performance

Shares of Enliven Therapeutics stock opened at $61.15 on Tuesday. The business's fifty day moving average price is $53.36 and its two-hundred day moving average price is $42.30. The company has a market capitalization of $4.48 billion, a P/E ratio of -36.62 and a beta of 0.27. Enliven Therapeutics, Inc. has a 1-year low of $14.78 and a 1-year high of $62.32.

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 analysts' consensus estimates of ($0.39) by ($0.10). On average, research analysts expect that Enliven Therapeutics, Inc. will post -1.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ELVN. Weiss Ratings reiterated a "sell (d-)" rating on shares of Enliven Therapeutics in a research note on Friday, July 17th. Wall Street Zen lowered shares of Enliven Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Stifel Nicolaus boosted their price objective 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. JonesTrading increased their price objective on shares of Enliven Therapeutics from $45.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Finally, HC Wainwright raised their target price on shares of Enliven Therapeutics from $56.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Enliven Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $75.00.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source