Enliven Therapeutics (NASDAQ:ELVN) Trading 11.3% Higher – What’s Next?

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s stock price traded up 11.3% during trading on Wednesday . The company traded as high as $23.08 and last traded at $22.78. 89,742 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 228,633 shares. The stock had previously closed at $20.46.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Robert W. Baird raised their price objective on shares of Enliven Therapeutics from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. BTIG Research began coverage on Enliven Therapeutics in a research report on Friday, December 13th. They set a “buy” rating and a $42.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $37.00 price objective on shares of Enliven Therapeutics in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Enliven Therapeutics currently has an average rating of “Buy” and an average price target of $38.25.

Enliven Therapeutics Stock Performance

The stock’s 50 day moving average price is $24.28 and its 200-day moving average price is $24.40. The company has a market cap of $1.11 billion, a PE ratio of -11.92 and a beta of 1.04.

Insiders Place Their Bets

In other news, CEO Samuel Kintz sold 924 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was 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 owns 1,002,892 shares of the company’s stock, valued at approximately $30,086,760. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Benjamin Hohl sold 6,250 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $28.56, for a total value of $178,500.00. The disclosure for this sale can be found here. Insiders sold 42,568 shares of company stock valued at $1,076,920 over the last three months. Insiders own 29.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Quest Partners LLC grew its holdings in Enliven Therapeutics by 87.3% in the 2nd quarter. Quest Partners LLC now owns 1,592 shares of the company’s stock worth $37,000 after acquiring an additional 742 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of 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 purchasing an additional 3,559 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Enliven Therapeutics in the third quarter worth about $256,000. Verition Fund Management LLC purchased a new position in Enliven Therapeutics during the 3rd quarter valued at about $271,000. Finally, The Manufacturers Life Insurance Company bought a new position in Enliven Therapeutics during the 2nd quarter valued at approximately $322,000. 95.08% of the stock is owned by hedge funds and other institutional investors.

About Enliven Therapeutics

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.