Enliven Therapeutics (NASDAQ:ELVN) Hits New 52-Week High – Still a Buy?

Enliven Therapeutics, Inc. (NASDAQ:ELVN) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $52.42 and last traded at $52.1040, with a volume of 97765 shares traded. The stock had previously closed at $51.73.

Analyst Ratings Changes

A number of research firms have recently weighed in on ELVN. Mizuho increased their price objective on shares of Enliven Therapeutics from $45.00 to $62.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group upped their price target on shares of Enliven Therapeutics from $41.00 to $59.00 and gave the company a “buy” rating in a report on Friday, May 8th. Stifel Nicolaus lifted their price objective on Enliven Therapeutics from $60.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. HC Wainwright boosted their price objective on Enliven Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Finally, Guggenheim began coverage on Enliven Therapeutics in a research note on Tuesday, May 12th. They issued a “buy” rating and a $80.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.17.

Enliven Therapeutics Stock Performance

The firm has a market capitalization of $3.22 billion, a PE ratio of -31.59 and a beta of 0.24. The firm’s 50 day moving average price is $43.70 and its 200-day moving average price is $35.34.

Enliven Therapeutics (NASDAQ:ELVN) last issued 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, equities research analysts expect that Enliven Therapeutics, Inc. will post -1.57 earnings per share for the current fiscal year.

Insider Activity at Enliven Therapeutics

In other Enliven Therapeutics news, Director Lori Anne Kunkel sold 10,000 shares of the company’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 approximately $1,792,073.36. This represents a 16.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 firm’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 51,000 shares in the company, valued at $2,233,800. This represents 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. Over the last ninety days, insiders have sold 26,018 shares of company stock valued at $1,113,888. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Enliven Therapeutics

A number of hedge funds have recently made changes to their positions in ELVN. KBC Group NV purchased a new position in shares of Enliven Therapeutics in the first quarter valued at approximately $38,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Enliven Therapeutics by 25.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,884 shares of the company’s stock valued at $44,000 after purchasing an additional 594 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Enliven Therapeutics by 33.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,722 shares of the company’s stock valued at $75,000 after purchasing an additional 930 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Enliven Therapeutics during the 4th quarter worth $83,000. Finally, Quantbot Technologies LP boosted its stake in Enliven Therapeutics by 47.1% during the 2nd quarter. Quantbot Technologies LP now owns 4,477 shares of the company’s stock worth $90,000 after purchasing an additional 1,434 shares during 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.