Rock Springs Capital Management LP Purchases 28,095 Shares of Enliven Therapeutics, Inc. $ELVN

Key Points

• Rock Springs Capital Management increased its Enliven Therapeutics position by 3.5% to 826,500 shares, while institutional investors collectively own 95.08% of the company.
• Enliven reported a quarterly loss of $0.38 per share, beating analysts’ $0.44 loss estimate. Shares opened at $52.74, near their 52-week high of $55.79.
• Analyst sentiment remains positive, with an average “Moderate Buy” rating and a $70.50 price target, although company insiders have sold 26,018 shares worth about $1.1 million over the past 90 days.

Rock Springs Capital Management LP raised its position in Enliven Therapeutics, Inc. (NASDAQ:ELVN - Free Report) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 826,500 shares of the company's stock after purchasing an additional 28,095 shares during the quarter. Enliven Therapeutics accounts for approximately 1.9% of Rock Springs Capital Management LP's holdings, making the stock its 15th largest holding. Rock Springs Capital Management LP owned 1.36% of Enliven Therapeutics worth $32,399,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Commodore Capital LP boosted its position in shares of Enliven Therapeutics by 0.4% during the second 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 period. Vestal Point Capital LP raised its position in Enliven Therapeutics by 230.2% in the 4th quarter. Vestal Point Capital LP now owns 3,830,000 shares of the company's stock valued at $58,982,000 after buying an additional 2,670,000 shares during the last quarter. Polar Capital Holdings Plc raised 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. Vanguard Group Inc. lifted its stake in Enliven Therapeutics by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,553,014 shares of the company's stock valued at $52,260,000 after acquiring an additional 142,378 shares in the last quarter. Finally, State Street Corp lifted its stake in Enliven Therapeutics by 9.1% in the 4th quarter. State Street Corp now owns 1,052,862 shares of the company's stock valued at $16,214,000 after acquiring an additional 87,725 shares in the last quarter. Institutional investors and hedge funds own 95.08% of the company's stock.

Enliven Therapeutics Stock Performance

Shares of NASDAQ ELVN opened at $52.74 on Tuesday. The stock has a 50 day moving average price of $45.75 and a 200 day moving average price of $37.69. The stock has a market capitalization of $3.21 billion, a PE ratio of -31.58 and a beta of 0.24. Enliven Therapeutics, Inc. has a 52 week low of $14.78 and a 52 week high of $55.79.

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 for the quarter, topping the consensus estimate of ($0.44) by $0.06. As a group, research analysts forecast that Enliven Therapeutics, Inc. will post -1.57 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Stifel Nicolaus upped their price target on Enliven Therapeutics from $60.00 to $80.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Enliven Therapeutics in a report on Friday, July 17th. The Goldman Sachs Group boosted their price objective on shares of Enliven Therapeutics from $59.00 to $67.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. JonesTrading increased their target price on shares of Enliven Therapeutics from $45.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, June 29th. Finally, Wall Street Zen raised shares of Enliven Therapeutics from a "sell" rating to a "hold" rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $70.50.

Insiders Place Their Bets

In other news, CFO Benjamin Hohl sold 6,018 shares of Enliven Therapeutics stock in a transaction dated 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 transaction, the chief financial officer owned 51,000 shares of the company's stock, valued at $2,233,800. This trade represents a 10.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lori Anne Kunkel sold 10,000 shares of Enliven Therapeutics stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $34.54, for a total transaction of $345,400.00. Following the completion of the transaction, the director directly owned 51,884 shares of the company's stock, valued at approximately $1,792,073.36. This trade represents 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. Over the last 90 days, insiders have sold 26,018 shares of company stock worth $1,113,888. 3.00% of the stock is owned by corporate insiders.

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.

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