Enliven Therapeutics (NASDAQ:ELVN) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Enliven Therapeutics, Inc. (NASDAQ:ELVN) saw strong trading volume on Tuesday . 346,797 shares changed hands during mid-day trading, an increase of 69% from the previous session’s volume of 205,665 shares.The stock last traded at $20.84 and had previously closed at $22.07.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $37.00 target price on shares of Enliven Therapeutics in a report on Tuesday, October 1st. BTIG Research assumed coverage on shares of Enliven Therapeutics in a report on Friday, December 13th. They issued a “buy” rating and a $42.00 target price on the stock. Finally, Robert W. Baird boosted their target price on shares of Enliven Therapeutics from $32.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Enliven Therapeutics currently has an average rating of “Buy” and an average target price of $38.25.

Enliven Therapeutics Stock Performance

The stock has a market cap of $1.00 billion, a price-to-earnings ratio of -10.78 and a beta of 1.04. The company’s 50 day simple moving average is $24.43 and its two-hundred day simple moving average is $24.42.

Insider Buying and Selling at Enliven Therapeutics

In other Enliven Therapeutics news, CEO Samuel Kintz sold 924 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $30.00, for a total value of $27,720.00. Following the completion of the sale, the chief executive officer now directly owns 1,002,892 shares of the company’s stock, valued at $30,086,760. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joseph P. Lyssikatos sold 847 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $30.00, for a total transaction of $25,410.00. Following the completion of the sale, the insider now directly owns 1,015,188 shares of the company’s stock, valued at $30,455,640. This represents a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,568 shares of company stock worth $1,076,920. 29.20% of the stock is currently owned by company insiders.

Institutional Trading of Enliven Therapeutics

Large investors have recently added to or reduced their stakes in the business. Quest Partners LLC grew its position in Enliven Therapeutics by 87.3% in the second quarter. Quest Partners LLC now owns 1,592 shares of the company’s stock worth $37,000 after acquiring an additional 742 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its position in Enliven Therapeutics by 64.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 9,085 shares of the company’s stock worth $232,000 after acquiring an additional 3,559 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Enliven Therapeutics during the 3rd quarter worth $256,000. Verition Fund Management LLC bought a new stake in shares of Enliven Therapeutics during the 3rd quarter worth $271,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Enliven Therapeutics during the 2nd quarter worth $322,000. 95.08% of the stock is owned by institutional investors.

Enliven Therapeutics Company Profile

Enliven Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of small molecule inhibitors to help patients with cancer. The company’s lead product candidates comprise ELVN-001, which is being evaluated in a Phase 1 clinical trial in adults with chronic myeloid leukemia; and ELVN-002, a Phase 1 clinical trial in adults with solid tumors with HER2 alterations.