Enliven Therapeutics, Inc. (NASDAQ:ELVN) Sees Large Drop in Short Interest

Enliven Therapeutics, Inc. (NASDAQ:ELVN) saw a significant drop in short interest in the month of January. As of January 30th, there was short interest totaling 7,870,182 shares, a drop of 14.1% from the January 15th total of 9,166,736 shares. Based on an average daily volume of 997,280 shares, the days-to-cover ratio is presently 7.9 days. Approximately 17.9% of the shares of the company are sold short. Approximately 17.9% of the shares of the company are sold short. Based on an average daily volume of 997,280 shares, the days-to-cover ratio is presently 7.9 days.

Insider Transactions at Enliven Therapeutics

In related news, COO Anish Patel sold 48,300 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $27.99, for a total value of $1,351,917.00. Following the transaction, the chief operating officer directly owned 215,011 shares in the company, valued at approximately $6,018,157.89. This trade represents a 18.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard A. Heyman sold 1,230 shares of Enliven Therapeutics stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $26.75, for a total transaction of $32,902.50. Following the completion of the transaction, the director owned 23,877 shares in the company, valued at $638,709.75. This trade represents a 4.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 245,113 shares of company stock worth $6,392,412. 25.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commodore Capital LP grew its stake in shares of Enliven Therapeutics by 0.4% in the 2nd quarter. Commodore Capital LP now owns 4,692,809 shares of the company’s stock valued at $94,138,000 after purchasing an additional 17,809 shares during the period. Polar Capital Holdings Plc boosted its stake in Enliven Therapeutics by 13.5% in the 4th quarter. Polar Capital Holdings Plc now owns 3,513,680 shares of the company’s stock valued at $54,111,000 after buying an additional 418,673 shares in the last quarter. Vanguard Group Inc. boosted its stake in Enliven Therapeutics by 5.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,553,014 shares of the company’s stock valued at $52,260,000 after buying an additional 142,378 shares in the last quarter. Vestal Point Capital LP grew its position in Enliven Therapeutics by 364.0% in the third quarter. Vestal Point Capital LP now owns 1,160,000 shares of the company’s stock valued at $23,745,000 after acquiring an additional 910,000 shares during the period. Finally, State Street Corp raised its stake in Enliven Therapeutics by 9.1% during the fourth quarter. State Street Corp now owns 1,052,862 shares of the company’s stock worth $16,214,000 after acquiring an additional 87,725 shares in the last quarter. Institutional investors own 95.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen upgraded Enliven Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Enliven Therapeutics in a research report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Enliven Therapeutics Stock Down 2.2%

Enliven Therapeutics stock traded down $0.59 on Tuesday, hitting $26.13. The company’s stock had a trading volume of 674,705 shares, compared to its average volume of 1,303,236. Enliven Therapeutics has a one year low of $13.30 and a one year high of $30.22. The firm has a market cap of $1.55 billion, a P/E ratio of -14.20 and a beta of 0.34. The company has a fifty day moving average price of $22.25 and a 200-day moving average price of $20.98.

Enliven Therapeutics Company Profile

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.