Enliven Therapeutics (NASDAQ:ELVN) Stock Price Up 7.6% – Still a Buy?

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s share price rose 7.6% during trading on Thursday . The stock traded as high as $24.45 and last traded at $24.20. Approximately 91,031 shares were traded during trading, a decline of 64% from the average daily volume of 252,244 shares. The stock had previously closed at $22.50.

Analysts Set New Price Targets

A number of brokerages have weighed in on ELVN. HC Wainwright reaffirmed a “buy” rating and issued a $37.00 price target on shares of Enliven Therapeutics in a research report on Tuesday, October 1st. BTIG Research initiated coverage on Enliven Therapeutics in a research report on Friday, December 13th. They set a “buy” rating and a $42.00 target price for the company. Finally, Robert W. Baird lifted their price target 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. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Enliven Therapeutics has a consensus rating of “Buy” and a consensus price target of $38.25.

Enliven Therapeutics Stock Performance

The firm’s 50-day simple moving average is $25.20 and its 200-day simple moving average is $24.28. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -12.42 and a beta of 1.02.

Insiders Place Their Bets

In related news, CFO Benjamin Hohl sold 3,350 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $22.15, for a total transaction of $74,202.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joseph P. Lyssikatos sold 847 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $30.00, for a total value of $25,410.00. Following the transaction, the insider now 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 sold 125,624 shares of company stock worth $3,479,160. 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 company. Quest Partners LLC grew its position in Enliven Therapeutics by 87.3% during 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. boosted its stake 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 purchasing an additional 3,559 shares in the last quarter. SG Americas Securities LLC acquired a new position in Enliven Therapeutics in the third quarter worth $256,000. Verition Fund Management LLC bought a new stake in shares of Enliven Therapeutics during the third quarter worth $271,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Enliven Therapeutics in the second quarter valued at about $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.