Enliven Therapeutics (NASDAQ:ELVN) Stock Price Down 6.7% – What’s Next?

Enliven Therapeutics, Inc. (NASDAQ:ELVN) was down 6.7% during mid-day trading on Monday . The stock traded as low as $43.57 and last traded at $43.0510. Approximately 1,222,453 shares changed hands during trading, an increase of 2% from the average daily volume of 1,202,457 shares. The stock had previously closed at $46.13.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ELVN shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Enliven Therapeutics in a research note on Monday, April 20th. Guggenheim began coverage on shares of Enliven Therapeutics in a research note on Tuesday, May 12th. They set a “buy” rating and a $80.00 price objective for the company. Mizuho upped their price objective on shares of Enliven Therapeutics from $45.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Stifel Nicolaus initiated coverage on shares of Enliven Therapeutics in a research note on Tuesday, June 9th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Wall Street Zen upgraded Enliven Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Enliven Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $63.40.

Enliven Therapeutics Stock Performance

The business has a fifty day moving average of $41.73 and a 200 day moving average of $31.24.

Enliven Therapeutics (NASDAQ:ELVN) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.06. On average, research analysts expect that Enliven Therapeutics, Inc. will post -1.71 EPS for the current year.

Insider Transactions at Enliven Therapeutics

In related news, Director Lori Anne Kunkel sold 10,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $34.54, for a total value of $345,400.00. Following the completion of the transaction, the director directly owned 51,884 shares of the company’s stock, valued at $1,792,073.36. This represents a 16.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Enliven Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Vestal Point Capital LP increased its stake in shares of Enliven Therapeutics by 230.2% during the fourth quarter. Vestal Point Capital LP now owns 3,830,000 shares of the company’s stock valued at $58,982,000 after purchasing an additional 2,670,000 shares in the last quarter. Siren L.L.C. bought a new position in shares of Enliven Therapeutics during the first quarter valued at approximately $29,252,000. Affinity Asset Advisors LLC bought a new position in shares of Enliven Therapeutics during the first quarter valued at approximately $23,007,000. TCG Crossover Management LLC bought a new position in shares of Enliven Therapeutics during the second quarter valued at approximately $9,990,000. Finally, Duquesne Family Office LLC increased its stake in shares of Enliven Therapeutics by 104.6% during the third quarter. Duquesne Family Office LLC now owns 947,405 shares of the company’s stock valued at $19,393,000 after purchasing an additional 484,405 shares in the last quarter. Institutional investors own 95.08% of the company’s stock.

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.