William Blair Initiates Coverage on Enliven Therapeutics (NASDAQ:ELVN)

Analysts at William Blair initiated coverage on shares of Enliven Therapeutics (NASDAQ:ELVN) in a note issued to investors on Tuesday,Benzinga reports. The firm set an “outperform” rating on the stock.

Other equities analysts also recently issued reports about the stock. Barclays initiated coverage on shares of Enliven Therapeutics in a report on Tuesday. They set an “overweight” rating and a $78.00 price target for the company. Stifel Nicolaus increased their price target on Enliven Therapeutics from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. JonesTrading lifted their price objective on Enliven Therapeutics from $45.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enliven Therapeutics in a report on Friday, July 17th. Finally, HC Wainwright increased their price target on shares of Enliven Therapeutics from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

Enliven Therapeutics Trading Up 1.2%

ELVN opened at $59.53 on Tuesday. The stock’s 50 day simple moving average is $51.42 and its 200-day simple moving average is $41.13. The stock has a market cap of $4.36 billion, a PE ratio of -35.65 and a beta of 0.27. Enliven Therapeutics has a 1 year low of $14.78 and a 1 year high of $62.32.

Enliven Therapeutics (NASDAQ:ELVN) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.10). Equities analysts forecast that Enliven Therapeutics will post -1.67 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Benjamin Hohl sold 6,018 shares of the firm’s stock in a transaction on Friday, July 17th. The stock was sold at an average price of $52.64, for a total value of $316,787.52. Following the transaction, the chief financial officer directly owned 46,054 shares in the company, valued at $2,424,282.56. This trade represents a 11.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lori Anne Kunkel sold 10,000 shares of Enliven Therapeutics stock in a transaction on Friday, June 5th. The stock was sold at an average price of $34.54, for a total value of $345,400.00. Following the sale, the director directly owned 51,884 shares of the company’s stock, valued at approximately $1,792,073.36. This trade represents a 16.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 190,831 shares of company stock valued at $10,991,723 in the last 90 days. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Enliven Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in ELVN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Enliven Therapeutics by 8.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,729 shares of the company’s stock valued at $428,000 after buying an additional 1,693 shares during the period. Goldman Sachs Group Inc. raised its holdings in Enliven Therapeutics by 61.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 211,752 shares of the company’s stock valued at $4,167,000 after acquiring an additional 80,506 shares during the period. Jane Street Group LLC acquired a new position in shares of Enliven Therapeutics in the first quarter valued at approximately $578,000. Legal & General Group Plc increased its position in Enliven Therapeutics by 52.2% during the 2nd quarter. Legal & General Group Plc now owns 32,225 shares of the company’s stock worth $646,000 after buying an additional 11,058 shares during the period. Finally, Quantbot Technologies LP boosted its stake in shares of Enliven Therapeutics by 47.1% in the second quarter. Quantbot Technologies LP now owns 4,477 shares of the company’s stock valued at $90,000 after buying an additional 1,434 shares during the period. 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.