Enliven Therapeutics (NASDAQ:ELVN) Reaches New 12-Month High – Still a Buy?

Enliven Therapeutics, Inc. (NASDAQ:ELVN)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $54.90 and last traded at $54.74, with a volume of 53658 shares trading hands. The stock had previously closed at $52.95.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ELVN. Wall Street Zen raised shares of Enliven Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, May 11th. Guggenheim assumed coverage on shares of Enliven Therapeutics in a report on Tuesday, May 12th. They set a “buy” rating and a $80.00 price objective on the stock. The Goldman Sachs Group upped their target price on Enliven Therapeutics from $59.00 to $67.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Mizuho raised their target price on Enliven Therapeutics from $45.00 to $62.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Finally, HC Wainwright lifted their price target on Enliven Therapeutics from $56.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

Enliven Therapeutics Stock Performance

The company’s fifty day moving average is $45.49 and its two-hundred day moving average is $37.43. The company has a market cap of $3.31 billion, a price-to-earnings ratio of -32.65 and a beta of 0.24.

Enliven Therapeutics (NASDAQ:ELVN) last posted 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, sell-side analysts anticipate that Enliven Therapeutics, Inc. will post -1.57 EPS for the current fiscal year.

Insider Buying and Selling at Enliven Therapeutics

In related news, Director Lori Anne Kunkel sold 10,000 shares of the business’s stock in a transaction on 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 in the company, valued at $1,792,073.36. The trade was a 16.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Benjamin Hohl sold 6,018 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $43.80, for a total transaction of $263,588.40. Following the completion of the sale, the chief financial officer directly owned 51,000 shares in the company, valued at approximately $2,233,800. The trade was a 10.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 26,018 shares of company stock valued at $1,113,888. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Enliven Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of ELVN. Tema ETFs LLC lifted its holdings in Enliven Therapeutics by 41.0% in the second quarter. Tema ETFs LLC now owns 60,694 shares of the company’s stock valued at $3,080,000 after acquiring an additional 17,638 shares during the period. Handelsbanken Fonder AB acquired a new stake in shares of Enliven Therapeutics in the second quarter valued at about $878,000. FNY Investment Advisers LLC acquired a new stake in Enliven Therapeutics in the 2nd quarter worth about $126,000. Assenagon Asset Management S.A. purchased a new stake in Enliven Therapeutics during the 2nd quarter worth approximately $15,559,000. Finally, Seven Fleet Capital Management LP increased its stake in Enliven Therapeutics by 159.4% during the 1st quarter. Seven Fleet Capital Management LP now owns 259,283 shares of the company’s stock worth $10,164,000 after buying an additional 159,330 shares in the last quarter. Institutional investors and hedge funds 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.